Forex News

The Great Britain pound was one of the strongest major currencies on Friday despite plenty of negative fundamentals that were weighing on the currency. Over the week, though, the sterling kept losses versus most of its major peers.

The euro was heading to end Friday as the weakest major currency on the Forex market. The shared 19-nation currency fell even against the US dollar, despite rising initially after the release of terrible US nonfarm payrolls. At the same time, the euro is currently trying to rebound versus the New Zealand dollar.

The Canadian dollar today lost ground against the dollar for the third consecutive session despite rising global crude oil prices as the greenback rallied. The USD/CAD currency pair edged higher for the third consecutive session following the release of disappointing employment reports from both Canada and the US.

The US dollar is looking to log a gain in the first trading week of 2021 as investors potentially seek refuge in the conventional safe-haven asset. The US government reported a worse-than-expected jobs report for December, driven by a resurgence in the coronavirus pandemic that is approaching 300,000 new infections per day. Is the greenback on the verge of facing a correction higher?

The Japanese yen was soft today, falling against most of the major rivals, as markets remained in the risk-on mode despite the political turmoil in the United States. Market analysts speculated that the victory of Democrats in the US elections spurred hopes for fresh stimulus measures from the president-elect Joe Biden.

The United States dollar versus the Japanese yen currency pair seems to have entered a corrective phase. But is this just a simple correction?

Today, the euro fell against the resurgent dollar amid rising US Treasury yields that boosted the world’s reserve currency despite the turbulent American politics. The EUR/USD currency pair’s decline was also fueled by the disappointing inflation data coming out of the eurozone, causing investors to sell the euro.

The US dollar is extending its winning streak to two sessions toward the end of the first trading week of 2021. The greenback, which has come under pressure over the last nine months, is finding support in the political chaos unfolding in Washington during the final days of President Donald Trump’s tenure. The buck’s ascent occurred alongside a rally in the financial markets and bullish economic data.

The Great Britain pound versus the Canadian dollar currency pair seems to be under constant bearish pressure. Will the bulls hold up this time as well?

The US dollar found support on Wednesday after a barrage of American political developments dominated the news cycle. The greenback recorded modest gains against many of its currency rivals in the aftermath of the Georgia special election. Vice President Mike Pence also impacted the financial markets by declaring that he is not overturning November’s presidential election result.