ECB says that exceptional circumstances justify the need to extend the leverage ratio relief for banks in the region
This was already rumored earlier in the week , so it isn’t too much of a surprise decision by the ECB. The full release can be found .

The dollar is keeping steadier but off the highs from earlier today
Most major currencies are going back to keeping little changed after some earlier moves which saw the likes of the and drop against the greenback.

This allows for leisure trips to the continent
The EU also adds HK, Lebanon, Albania, Macau, Macedonia, Serbia, and Taiwan to the ‚white list‘, from which non-essential travel is allowed to the bloc.

The post-FOMC reverberations continue to linger as the dollar strengthens
The greenback is pulling ahead across the board as the post-FOMC reaction looks to be gathering further momentum now in European trading.

The dollar is keeping firmer on the session
Though not trading at the highs earlier, the greenback is still keeping a solid advance across the board – notably against the euro, franc and loonie.

A look at what is on the board for today
A couple of ones to take note of for the day, as highlighted in .
bold
For EUR/USD, the expiries are likely to keep a lid on any upside with the dollar keeping firmer. Likewise for USD/JPY as it should find some support closer to 110.25-50 though keep

Latest data released by Eurostat – 17 June 2021
– Prior +2.7%; revised to +4.1%
– Construction output +42.3% y/y
– Prior +18.3%; revised to +20.0%
There is still some slack evident in construction activity in the region, with civil engineering work falling 6.1% and building construction down 1.0% in April relative to March. That said, this is capturing

It’s Fed day
The FOMC decision is at 1800 GMT with Powell’s press conference 30 minutes later. That’s going to dominate the trading day but there is some important data coming up at the bottom of the hour.

The ECB continues to rebuff the above narrative
There is a coherent message from the ECB this week and that is as what the headline reads out to be. Policymakers have signaled that they will only look to consider any potential changes in September so until then, expect the ECB to keep the status quo.

Latest data from the Mortgage Bankers Association for the week ending 11 June 2021
– Prior -3.1%
– Market index 672.4 vs 645.4 prior
– Refinancing index 3,026.6 vs 2,869.2 prior
The prior week’s release can be found . Both purchases and refinancing activity showed a modest rebound in the past week but the trend as of late is still hinting