FXstreet.com (Buenos Aires) - Greenback holds a weak tone since early Asia that has extended during current European session, with Euro as the only major losing ground against the American currency. Ahead of US Martin Luther King's holiday, the dollar continues losing ground against major rivals.
Commodity currencies such as Australian and Canadian dollar, along with Pound, are the major winners today. While AUD remains well bid by Australian economic recovery and market players eyeing another rate hike in February, Canadian dollar has been supported by recent oil price raises that despite having lost some ground past week, remains at the top of OPEC comfortable range zone, now quoting around $ 79 a barrel.
Pound on his own, is being supported by speculation BOE is ready to suspend QE facilities next month, as well as stronger than expected Nationwide house price data. GBP/USD reached a fresh 5 weeks high early Europe at 1.6380, consolidating past week gains above 1.6300 psychological zone.