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Euro Drops Despite In-Line Inflation Data Ahead of FOMC Minutes

The euro today has traded erratically against the US dollar from the start of today’s session as both sellers and buyers pushed to gain control of the single currency. The EUR/USD currency pair traded both higher and lower as it struggled to find direction despite the release of positive eurozone inflation data, but was heading lower at the time of writing.

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 Strong UK GDP Data and Positive Brexit Headlines

The British pound today rallied higher against the US dollar following the release of the UK GDP monthly estimate for July, which came in above expectations. The GBP/USD currency pair’s rally was slowed down by the weak manufacturing output print, which indicated that manufacturing activity contracted in July.

Sterling Pound Drops on UK GDP Data and US Inflation Report

The Sterling pound today was on a downtrend from the Asian session, but recovered slightly after the release of positive UK GDP data. The GBP/USD currency pair’s decline was further accelerated by the release of upbeat CPI data from the US docket.

Euro Rallies Higher Against a Weakening US Dollar, Later Declines

The euro today rallied against the US dollar during the European session after the release of the final Eurozone CPI data. The euro was on a downtrend against the greenback during the Asian session following the risk-on sentiment in the global markets, which later resumed in the early American session.

British Pound Drops Slightly on Mixed UK Economic Releases

The British pound today dropped slightly against the US dollar following a deluge of mixed releases from the UK docket including the crucial manufacturing production data. The GBP/USD’s decline was further accelerated by profit taking as most traders closed their trades following the currency pair’s massive rally, which started on Friday last week.

GBP/USD Trades Sideways on Weak UK Macro Releases

The GBP/USD currency pair today traded in a tight range following the release of several UK macro reports, most of which did not meet expectations. The currency pair lacked enough momentum to rally higher following yesterday’s massive decline occasioned by higher demand for the US dollar.

EUR/USD Declines as American Markets Remain Closed

The EUR/USD currency pair today declined for the second consecutive session in a global market characterized by low volatility given that US markets remain closed as the country celebrated  Presidents’ Day. The US markets were not the only ones closed, as Chinese markets also remain closed due to the ongoing Chinese New Year celebrations.

GBP/USD Hits New 3-Week Lows on Mixed UK Data

The GBP/USD currency pair today dropped to new 3-week lows following the release of weak UK industrial production and trade balance data. The pair’s decline was further accelerated by a rebound in the US dollar demand supported by the sell-off across most European equities.

British Pound Swings Widely on UK Data and Chinese Rumors

The British pound today recorded wide swings against the US dollar as it dropped to 8-week lows and rallied higher on US dollar weakness. The rally was mainly triggered by rumors originating from China, but was short-lived as the pound headed lower much later.

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