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British Pound Trades Lower as Rebel MPs Oppose Latest Brexit Plan

The British pound today traded lower against the US dollar even as Theresa May‘s government is buffeted by rebellions from members of her Conservative Party who have resigned from their positions. The pound’s decline was further accelerated by the risk-off sentiment among investors triggered by the imposition of more tariffs by the US government on Chinese exports.

British Pound Rallies on Carney Speech, Later Declines on Brexit News

The British pound today rallied higher against the US dollar in the early European session following hawkish comments by the Bank of England Governor Mark Carney. The pound later erased all its gains in the American session following a news report that the German government was unconvinced with the UK’s latest post-Brexit Customs plan.

Euro Trades Lower on Germany Political Crisis and Mixed PMI Releases

The euro today traded lower against the US dollar amid the deepening of the political crisis in Germany as the Interior Minister Horst Seehofer threatened to resign. The release of mixed Eurozone PMIs by IHS Markit in the early European session could not reverse the pair’s downtrend as the US dollar gained ground over the single currency.

Euro Holds On to Gains After EU Migration Deal Amid Strong US PCE Data

The euro today held on to its gains in the American session despite the release of strong US inflation data, which boosted the greenback. The EUR/USD currency pair has rallied significantly higher overnight after European leaders finally reached a deal on Migration at the EU Summit.

Euro Mixed After European Elections, Disappointing Economic Reports

The euro fell against the US dollar intraday but has managed to recover by now. Against other majors the shared 19-nation currency was mixed, rising against the safe currencies, like the Japanese yen, but falling versus the Great Britain pound. The major driver for the currency were European election on the weekend.

Euro Drops Against US Dollar Despite German Coalition Deal

The euro today dropped significantly against the US dollar despite Angela Merkel‘s CDU party reaching a coalition deal with the social democrats in the early European session. The euro’s initial decline was largely triggered by weak German industrial production data released earlier today.

Euro Drops Against US Dollar on Weak Eurozone Retail Sales Data

The euro today gave up all its gains and traded much lower after the release of weak Eurozone retail sales data in the mid-European session. The euro had rallied to new daily highs following the release of positive Eurozone services PMIs by IHS Markit earlier in the session.

Euro Rallies Higher Despite Lack of Major Economic Data

The euro today rallied higher against the US dollar despite the lack of any major economic releases from the Eurozone, while US markets remained closed. The euro’s rally was largely triggered by the aggressive selling of the US dollar across the board.

Euro Rallies Higher on German Coalition Talks Breakthrough

The euro today rallied higher against the US dollar after news emerged that Angela Merkel was finally on the verge of forming a coalition government. The euro extended yesterday’s rally, which was triggered by the hawkish European Central Bank minutes, as the German political headlines ended months of uncertainty.

GBP/USD Trades Sideways on Brexit Jitters and US Data

The GBP/USD currency pair today traded in a sideways range during the early European session given the empty UK economic docket. Much of the currency pair’s movement was in reaction to news concerning Brexit negotiations and yesterday’s US macro data.

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