It is shaping up to be a less-than-enthusiastic Monday. The G10 currency pairs remain somewhat steady at levels close to Friday’s close, apart from the pound sterling. In contrast, it looks like a few emerging currencies misbehaved during the overnight session. The Taiwan dollar (TWD) and Korean Won (KRW) did a weakening ‘jig’ against the “mighty” U.S. dollar. Analysts speculate that both of these specific moves occurred to portfolio month-end rebalancing requirements.
It is shaping up to be a less-than-enthusiastic Monday. The G10 currency pairs remain somewhat steady at levels close to Friday’s close, apart from the pound sterling. In contrast, it looks like a few emerging currencies misbehaved during the overnight session. The Taiwan dollar (TWD) and Korean Won (KRW) did a weakening ‘jig’ against the “mighty” U.S. dollar. Analysts speculate that both of these specific moves occurred to portfolio month-end rebalancing requirements.