The Sterling pound today rallied higher against the US dollar following the release of upbeat Markit/CIPS UK Construction PMI data in the early European session. The pound’s rally drove the GBP/USD currency pair higher even as uncertainty loomed over the Brexit negotiations.
The Australian dollar was very soft today, probably due to the risk-off market sentiment, while domestic macroeconomic data did nothing to help the currency.
The euro today rallied higher against the US dollar after it was confirmed that the European Central Bank was considering ending its massive quantitative easing program. The news confirmed a report that was circulating on Tuesday about the possibility of such action by the ECB.
The Great Britain pound started the week strong, rallying on the back of favorable construction data. Yet by now, the currency has lost gains versus most of its major peers.
The euro was on a downtrend today from the mid-Asian session to the mid-European session as the markets digested the mixed US non-farm payroll report from Friday. The euro’s decline was further accelerated by weak releases from across the Eurozone such as the disappointing German factory orders for March.
The Australian dollar traded broadly lower today despite a report that showed that the business conditions index reached the record high level last month.
The Great Britain pound was lifted intraday by a surprisingly good report about the construction sector. By now, though, the currency has trimmed its gains, losing them outright against some rivals, like the US dollar and the Japanese yen.
The Great Britain pound rallied today against some of its major rivals, though not against the euro, even as macroeconomic data released in the United Kingdom over the trading session was rather poor.
The euro today rallied higher against the US dollar as investors embraced the risk-on mood in the market after it emerged that North Korea was considering possible denuclearization. The news emerged from talks between North Korea and its Southern counterpart, and its impact was significant enough to outweigh the effect of the Italian general election on the single currency.
The British pound today traded sideways against the US dollar after the release of the Markit/CIPS UK Construction PMI in the early European session. The pound rallied slightly higher in the mid-European session in risk-off environment as markets reacted to President Trump’s announcement that the US would institute steep tariffs on imported steel and aluminum products.
