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British Pound Trades at 14-Month Lows Despite Higher UK Inflation

The British pound today hit new record lows against the US dollar in the Asian session due to the risk-off sentiment in the markets, which favored the greenback. The GBP/USD currency pair retraced some of its losses after the release of the latest UK CPI data, which was in line with expectations.

US Dollar Holds Ground Despite Improving Market Sentiment

In general, safer currencies found little demand today as markets were recovering from the shock caused by the Turkish financial crisis. But the US dollar avoided losses for the most part, rising to the highest level in more than a year against the basket of major currencies.

Japanese Yen Soft As Turkish Fears Ease

The Japanese yen was soft today as markets calmed after fears of the Turkish financial crisis eased. With that said, the currency trimmed losses against some of its rivals and erased them against the euro completely.

Canadian Dollar Strengthens on Booming Real Estate, Higher Energy Prices

The Canadian dollar strengthened on Tuesday thanks to positive real estate market numbers and higher energy prices. The loonie also bounced back against its US counterpart on the threat of an economic collapse in Turkey that could seep into other emerging markets.

Euro Struggles to Rally on Upbeat Eurozone Data Amid Turkish Crisis

The euro today struggled to rally higher despite the release of upbeat data from across the Eurozone such as the German GDP report. The EUR/USD currency pair was largely weighed down by the ongoing currency crisis in Turkey, which has negatively affected the global financial markets.

British Pound Rallies Then Drops on Mixed UK Jobs Data

The British pound today rallied briefly following the release of the UK labour market report for August, where the unemployment rate hit a new record low. The GBP/USD currency pair was weighed down by the higher than expected claimant count rate, which saw it drop from session highs back to its opening levels.

Aussie Mixed As Market Sentiment Improves, Economic Data Disappoints

The market sentiment improved today after fears about the crisis in Turkey eased, alleviating pressure on riskier currencies. Yet the Australian dollar was mixed as domestic macroeconomic data was also mixed, while economic releases in China, Australia’s biggest trading partner, were universally disappointing.

Pound Languishes on Monday, Waiting for Key Economic Releases

The Great Britain pound behaved similarly to the euro today, opening sharply lower but recovering a bit later. And similarly to the euro, the currency was waiting for macroeconomic releases over the rest of the week as the Monday’s economic calendar was empty.

Chinese Yuan Weakens on Lira Crisis, Rallying Stocks

The Chinese yuan is weakening on Monday, hurt by the Turkish lira crisis and a rallying stock market. Investors have also combed through recent remarks by the People’s Bank of China (PBOC) about refusing to use the currency as a tool in its trade dispute with the US.

Euro Bounces from Lows, Waits for Economic Data

The euro bounced today after opening sharply lower due to the financial crisis in Turkey. The current trading session was light on other events, including economic releases, but tomorrow’s session will be different, with plenty of macroeconomic data from the eurozone.

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