XE Market Analysis: North America – Feb 24, 2021

The dollar has been trading mixed so far today, rising against an underperforming yen, holding steady against the euro while losing ground to dollar bloc, which were led higher by a charge in the New Zealand dollar, and the pound, which saw an outsized rally during the Asian session. The pound’s gains were notable, with Cable spiking by some 180 pips from yesterday’s New York closing level in posting a fresh 36-month high at 1.4234. The pair subsequently settled lower, to the mid 1.4100s, which still left sterling with over a 0.5% gain on the day.