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GBP/USD Retraces Earlier Gains as the US Dollar Index Surges

The GBP/USD currency pair today retraced some of its earlier gains made during the European session in the North American session as the US Dollar Index rallied higher. The currency pair had rallied higher during the mid-European session after the release of UK CBI trends data, which beat expectations.

US Dollar Moves Marginally Higher as Home Sales Improve More Than Expected in October

The US dollar moved marginally higher against the euro on Tuesday following the release of better than expected data for the housing market in the United States. However, investors’ anticipation for a speech that Federal Reserve Chairwoman Janet Yellen is scheduled to give tomorrow has kept the greenback’s gains dormant today.

Pound Rallies on Hopes for Progress in Brexit Talks

The Great Britain pound rose today amid hopes about progress in the Brexit talks.

Euro Bounces After Decline Caused by Failed German Coalition Talks

The euro fell intraday after the news that German Chancellor Angela Merkel failed to form a coalition government. Yet the currency has bounced against most of its rivals by now, trading near the opening level.

Dollar Soft amid Continuing Uncertainty About US Tax Reform

The US dollar was soft during the past trading week, falling against its major rivals, as markets continued to watch the developments in the US tax reform story.

British Pound Declines Against US Dollar on Strong Housing Data

The British pound today declined against the US dollar after the release of positive US housing starts and building permits data. The GBP/USD currency pair reversed all its earlier gains made during the early European session after an initial decline triggered by uncertainties regarding the ongoing Brexit negotiations.

Canadian Dollar Firm Despite Falling Employment

The Canadian dollar gained even though nation’s employment dropped last month. Other economic reports were good, though.

EUR/USD Trades Sideways on Eurozone and US Data

The EUR/USD currency pair was on a downtrend for most of the European session after the release of Eurozone CPI data for October. The pair later rebounded in the early American session after the release of US macro data.

Aussie Strong Despite Employment & Inflation Data

The Australian dollar gained today even though employment data missed forecasts and the inflation expectations gauge decreased this month.

US Dollar Erases Earlier Losses Against Euro Despite Weak Consumer Spending

The US dollar erased earlier losses against the euro on Wednesday, even as lower than expected data for consumer spending on core retail items weighed on the US currency. The greenback received additional pressure from a big drop in manufacturing activity in New York.

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