Here is what you need to know on Tuesday, January 21st:
- A holiday in the US kept majors confined to limited intraday ranges. The American dollar, however, remained strong, with the EUR/USD pair extending its decline to a fresh January low of 1.1076, settling below the 1.1100 level for a second consecutive day.
- The GBP/USD pair traded as low as 1.2961, amid a firmer dollar, and the Pound being affected by Brexit uncertainty and speculation that the BOE will have to cut rates. The UK will publish employment data this Tuesday.
- Crude oil prices trimmed early gains and closed the weekly opening gap triggered by news indicating reduced output from Libya.
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