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The euro fell to its lowest level since mid-November last week as investors grew increasingly concerned with rising virus cases in Europe.

Sterling fell to six-week lows versus the US dollar on Wednesday morning. The euro also lost ground, despite better-than-expected PMI numbers out of the common bloc.

We hope this article gives you an overview of the current Fraud & Security threats we face at this time. Remember, Ebury will never contact you without explanation to change its bank details. We would always provide significant notice of such a change.

Risk currencies lost ground against the US dollar on Tuesday morning as investors grew concerned about a third wave of virus infection in Europe.

The openly inflationist stance adopted by the Federal Reserve boosted emerging market currencies last week, with most ending higher versus the US dollar.

This Wednesday’s FOMC meeting will be the main event risk in the FX market this week.

EM currencies generally outperformed last week, supported by rising commodity prices. Focus this week will be firmly on central bank meetings of both the Federal Reserve and the Bank of England.

Read our ECB March Meeting Reaction. As anticipated by investors, the European Central Bank stepped up its efforts to rein in rising European bond yields at its monetary policy meeting on Thursday.

The ECB’s March meeting will likely dominate trading in the FX market on Thursday, with investors bracing for comments on the recent increase in global bond yields.

The common currency sank to its weakest position since late-November on Monday as rising Treasury yields caused investors to once again favour the US dollar.