Against the grain: Markets are broadly down – however – USD/CHF and USD/SGD have managed to record significant gains to stand out as the market's top gainers. On average, these currencies are subdued, although yesterday's price action saw them recording significant gains.
The US dollar is weakening against a basket of currencies — GBP/USD trades at 1.1251 after losing 1.24%. AUD/USD slipping 1% and closing at 0.6288.
Meanwhile, United States Interest Rate came out at four, while a consensus of analysts was expecting four.
What are surprising gainers?
Surprising Gainers are low-performing assets that have sprung up uncharacteristically with their past behavior and beat their expected daily return, making them surprising. The following list rates such assets in line with the difference between expectation and actual return. The greater the difference, the higher the rank.
Dollar-Swiss currency pair adds 93 pips or 0.93%
Consistent for now — USD/CHF rallies 93 pips (0.93%) deep into the session, trading at 1.0124.
USD/SGD currency pair adds 47 pips or 0.33%
As the session continues, it seems to maintain one direction — tentatively higher from an earlier low of 1.4155, USD/SGD is up to 1.4221 today, adding 47 pips, or 0.33%, to yesterday's closing price of 1.4173.