The Sterling's performance on Friday and over the weekend was mixed, with the Pound mainly appreciating against commodity-based currencies.
Commodity market registered a mixed development on March 24, but the majority of components included in Dukascopy daily review kept declining amid broadly uplifted US Dollar.
Currency market remained resilient to any flows of fundamental data on Thursday, with focus being on the next week already due to Easter holidays.
Despite mixed US fundamental data on Thursday, the Greenback managed to post gains against most major currencies, with exception against the British Pound.
Due to positive UK Retail Sales data, the British Pound appreciated against all other major currencies on Thursday.
Commodity market registered a mixed development on March 24, but the majority of components included in Dukascopy daily review kept declining amid broadly uplifted US Dollar.
Currency market remained resilient to any flows of fundamental data on Thursday, with focus being on the next week already due to Easter holidays.
The US Dollar strengthened significantly on Wednesday, boosted by hawkish FOMC member Bullard's statement, as well as strong Oil Inventories figures and New Home Sales.
The Sterling's performance was poor for another day, however, it still managed to appreciate against commodity-based currencies yesterday.
All commodities without any exception took a massive hit to their prices on Wednesday, owing to much heavier and confident US currency.
Plunging oil prices, that have lost value after a depressing US weekly reserves report, used to have a negative direct impact on all commodity-dependent currencies.
The American Dollar experienced mixed performance over the day, as it appreciated against some major peers, but declined against the others.
The British currency declined against all of other major peers on Tuesday, amid the terrorist attacks in Brussels bringing more fear of a ‘Brexit'.
A considerable advance in natural gas prices on Tuesday followed the most significant (among major commodities) drop on Monday.
The Pound Sterling took the biggest hit against the Euro and other currencies on Tuesday. An immediate negative reaction, which totaled 0.92% versus EUR, was a result of increased Brexit worries in the aftermath of attacks in Brussels.
The Greenback's performance was opposite to the Sterling's, as it appreciated against most major currencies on Monday.
The British Pound underwent a corrective decline on Monday, as it depreciated against all other major currencies.
Natural gas futures took the biggest hit among all major commodities on Monday, as they plummeted by more than 4% over the past 24 hours.
Monday's trading session was largely quiet, with only Euro zone's current account published throughout the whole day.
The US Dollar's performance was almost identical to the Sterling's, as the Buck appreciated against all major peers on Friday and over the weekend.
The Sterling retained most of its strength after the Thursday's BoE meeting, thus, appreciated against most major currencies on Friday and over the weekend.
Even though the general direction of global commodity markets had a bearish bias on Friday, any changes were not extreme amid quite balanced trading conditions.
Commodity prices have decreased gradually on Friday, but even a small change there put some downside pressure on Kiwi and Aussie that were the only currencies to lose value against the Euro.
With the retained post-FOMC weakness, the US Dollar experienced another day of declines against other major currencies.