XE Market Analysis: North America – Aug 18, 2020

The dollar has continued to weaken, which pushed the USD index (DXY) to a new 27-month low at 92.48. EUR-USD correspondingly rose to a 12-day peak at 1.1915, which is just 2 pips shy of the pair’s 27-month peak. Cable rallied by 0.5% in making a 12-day high at 1.3175, while EUR-GBP reversed most of the gains it saw yesterday in making a 0.9035 low. AUD-USD pegged an 11-day high at 0.7240, and USD-CAD descended to a seven-month low at 1.3155. Aside from the generally softer U.S. dollar, the Canadian currency has been buoyed by continued perkiness in oil prices.