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British Pound Rallies as PM May Expected to Win Leadership Challenge

The British pound today rallied higher from the early European session as analysts predicted that the British Prime Minister will win the leadership challenge from within her party. Most analysts are predicting that Theresa May will win the no-confidence vote scheduled for later today despite 48 Tory MPs submitting letters that triggered the vote.

British Pound Hits New Yearly Lows on Brexit News and Political Uncertainty

The British pound today dropped to new yearly lows in the American session after European Union officials insisted that they would not reopen Brexit negotiations. The pound made an about-turn after rallying higher in the early European session on positive Brexit news from Ireland regarding the Irish backstop amid positive UK jobs data.

British Pound Crashes Against US Dollar on Delay of Crucial Brexit Vote

The Sterling pound today crashed against the US dollar following media reports that the crucial Brexit vote scheduled for tomorrow had been postponed by the Prime Minister. The pound had reacted in a stable fashion earlier in the day following the release of the latest monthly UK GDP estimate, which was in line with expectations.

Euro Rallies Higher Boosted by Positive Italy and Brexit Expectations

The euro today rallied higher against the US dollar during the European session as market sentiment stabilized on positive developments in the Italian budget standoff. Positive PMI releases by IHS Markit from across the eurozone also contributed to the EUR/USD currency pair’s rally as did the latest Brexit developments.

Euro Rallies Against US Dollar Amid Falling US Bond Yields, Later Declines

The euro today rallied higher against the weaker US dollar boosted by bearish investor sentiment towards the world’s reserve currency. The EUR/USD currency pair rallied higher as markets reacted to falling US Treasury yields amid doubts about the trade ceasefire between the US and China.

Pound Declines Ahead of Important Brexit Vote

The Great Britain pound declined against other most-traded currencies today as Brexit worries outweighed positive macroeconomic data released during the European trading session.

British Pound Heads Lower on Barnier and Carney Brexit Warnings

The British pound today dropped to new daily lows following warning comments made by the European Union’s chief Brexit negotiator, Michel Barnier regarding the latest Brexit deal. The pound’s decline was further weighed down by a warning from the BoE Governor Mark Carney that most UK businesses are ill-prepared for a no-deal Brexit scenario.

Euro Falls on Chinese Trade War News, Italy Standoff, and Trump Tariffs

The euro today was buffeted by a deluge of negative news headlines that soured investor sentiment towards the single currency and other riskier currencies. The news headlines included China’s denial of any progress in the trade war talks as well as the Italian budget standoff, which contributed to the EUR/USD currency pair’s massive decline.

Euro Posts Massive Drop on Disappointing German PMI Data

The euro today dropped significantly against the US dollar following the release of disappointing German PMI data by IHS Markit in the early European session. The single currency had traded in a slight upward trend during the Asian session boosted by positive market sentiment and a weak US dollar before plunging lower.

British Pound Struggles as Markets Await May-Juncker Meeting

The British pound today struggled to find direction as investors adopted a wait and see approach towards the cable even as Theresa May is set to meet Jean-Claude Juncker later today. The pound was relatively stable as it appears that the British Prime Minister has managed to fend off a leadership challenge within her own party from Brexiteer MPs.

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