Here is what you need to know on Monday, February 24: The Euro (EUR) gathers strength against its rivals to begin the week as investors assess the results of the German election.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, kicks off the new week on a downbeat note and drops to its lowest level since December 10 during the Asian session.
Bybit, the cryptocurrency exchange hacked last Friday, withstood an outflow of over $6.1 billion over the weekend. However, the exchange’s CEO announced that the platform replaced the $1.
The EUR/USD pair regains positive traction at the start of a new week and hits a near one-month top, around the 1.0525-1.0530 area during the Asian session amid renewed US Dollar (USD) selling bias.
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Monday, though it remains confined in a familiar range near the all-time peak touched last week.
The Japanese Yen (JPY) builds on last week's strong gains against its American counterpart and drags the USD/JPY pair below the 149.00 mark, or the lowest level since early December during the Asian session on Monday.
The Indian Rupee (INR) flat lines on Monday. The concern over Foreign Portfolio Investment (FPI) outflows, with foreign investors offloading over $11 billion in Indian stocks this year might weigh on the local currency.
The Australian Dollar (AUD) retraces its recent losses from the previous session on Monday following the Chinese government’s release of its annual policy statement for 2025 on Sunday.
On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1717 as compared to Friday's fix of 7.1696 and 7.2498 Reuters estimates.
The GBP/USD pair kicks off the new week on a positive note and climbs above mid-1.2600s during the Asian session, closer to over a two-month top touched on Friday.
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