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British Pound Rallies on Brexit Progress Despite Weak UK Macro Data

The British pound today rallied higher against the US dollar from the early European session as it emerged that the European Union and the UK were about to reach a Brexit deal. The GBP/USD currency pair was further boosted by the fact that the US warned China against devaluing its currency, which did not favor the greenback.

Pound Rallies on Upbeat UK Inflation Data, Declines on Brexit News

The Sterling pound today rallied higher against the US dollar following the release of the latest UK inflation data, which beat expectations by a huge margin. The GBP/USD currency pair today rallied to new six-week highs following the positive releases, but later dropped to new lows due to negative Brexit headlines.

British Pound Trades Sideways Near 6-Week Highs on Carney Speech

The British pound today managed to hold on to yesterday’s gains following the disappointing US inflation figures that triggered its rally. The GBP/USD currency pair today rallied slightly higher to trade very close to its 6-week high and held on to its gains during the BoE Governor Mark Carney‘s speech today.

Sterling Pound Trades Sideways on BoE Rate Decision, Later Declines

The Sterling pound today traded sideways immediately after the Bank of England announced its interest rate decision, which was in line with expectations. The GBP/USD currency pair headed lower afterwards even as investors adjusted to the rate decision while looking forward to other fundamental triggers.

Chinese Yuan Strengthens Despite Banks Making Fewer Loans

The Chinese yuan is making gains against its US counterpart midweek, despite new economic numbers that show weaker corporate loan demand and a Bank of England (BOE) warning that China threatens the global economy. The yuan has strengthened over the last week, but it is still down 1% since August against the greenback.

British Pound Drops on UK Construction PMI, Later Rallies on Carney

The British pound today dropped to new lows extending yesterday’s decline following the release of disappointing UK construction data earlier today. The GBP/USD currency pair later rallied higher following the testimony by the Bank of England Governor before the UK parliament where he promised to help smooth the Brexit process.

Sterling Pound Tumbles to 11-Month Lows on Negative Sentiment

The Sterling pound today dropped to new 11-month lows following the resurgence of the US dollar amid negative investor sentiment towards the pound. The GBP/USD currency pair was weighed down by the looming fears of a no-deal Brexit as well as the ongoing trade standoff between the US and China.

Chinese Yuan Erases Early Gains on US Trade Friction, PBOC Move

The Chinese yuan enjoyed a great start to the trading week, but the currency quickly pared its gains on concerns over escalating trade tensions with the US. The trade fallout is also impacting the equities market as the widespread selloff are sending stocks, especially small-cap stocks, tumbling.

Euro Stumbles As Business Growth, Retail Sales Stall

The euro weakened to a five-week low against the US dollar at the end of the trading week on the latest eurozone economic data that is indicating lackluster growth. Despite a rallying DAX and FTSE, the currency could not record any gains, adding to its string of losses over the last month.

Canadian Dollar Flat on Strong Economic Data, Strengthening Greenback

The Canadian dollar is trading sideways on Thursday as the currency attempts to find direction from a mixed bag of news. While positive economic data and higher oil prices, the US dollar strengthening and Washington nearing a trade deal with Mexico appear to have offset those gains.

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