Daily review

The GBP/USD pair moved sideways after mixed economic data from the UK

The euro rose slightly after the European Central Bank (ECB) delivered the latest interest rate decision

European stocks bounced back even as worries of rising coronavirus cases remained

The British pound was little changed against the US dollar after the strong UK jobs numbers

The US dollar declined sharply as the market reacted to the falling bond yields as inflation fears wane

The euro was little changed against top currency pairs today after the modest Eurozone inflation numbers

In Europe, the DAX, FTSE 100, and CAC 40 also rose by more than 0.50%. This happened after banks like Goldman Sachs and JP Morgan published strong earnings.

The US dollar sell-off accelerated today as the market continued to reflect on the US consumer price numbers that were published yesterday.

The British pound held steady after a major data dump by the Office of National Statistics (ONS). According to the agency, the country’s economy contracted by 7.8% year-on-year in February after falling by 8.5% in the previous month.

The Bitcoin price rallied above $61,000 as demand for the digital currency rallied. Other digital currencies like Ether and Binance Coin also rallied.