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Pound Trades Sideways Against the Dollar, Later Edges Higher

The British pound today traded sideways against the dollar alternating between losses and gains before rallying higher to post gains amid hopes for further UK stimulus measures. The GBP/USD currency pair today rallied to its daily highs after the Chancellor of the Exchequer unveiled measures to directly support British workers.

US Dollar Finds Safe-Haven Support on Worse-Than-Expected Jobless Claims

The US dollar is finding support from investors who are seeking shelter following a worse-than-expected jobless claims report. The greenback has been climbing in recent weeks amid a return of volatility in the broader financial markets. With growing uncertainty in the economy surrounding the coronavirus and the upcoming cold and flu season, the buck might pare much of its losses by year’s end.

Japanese Yen Remains Soft Despite Pessimistic Mood

The market sentiment remained pessimistic, encouraging investors to stick to safer assets. But that did not help the Japanese yen, which was one of the weakest currencies on the Forex market during Thursday’s trading.

USD/INR Slumps to One-Month Low As Economy Forecast to Crash in 2020

The Indian rupee is slumping to a one-month low against the US dollar, driven by a bleak forecast for the developing country’s economy in 2020. But while market observers are anticipating an economic contraction, officials are looking ahead and expecting improvements across the nation. But could the rupee threaten its gains over the last few months?

Pound Falls Against Dollar on Brexit and New UK COVID-19 Rules

The Sterling pound today fell against the US dollar as investors remained wary of the current state of post-Brexit trade talks with the rising chances of a no-deal scenario. The GBP/USD currency pair’s decline was also fueled by the increasing coronavirus cases in the UK, which saw the government impose new restrictions to curb its spread.

US Dollar Spikes As Investors Flee Market Selloff, Seek Safe-Haven Shelter

The US dollar is rallying against most of its currency competitors to kick off the trading week. The greenback, which has cratered about 10% since peaking at 103.00, is extending its gains in September as investors flee the broader financial market selloff and seek shelter in a traditional safe-haven asset.

Pound Rallies on Brexit Deal Hopes and Upbeat UK Retail Sales

The Sterling pound today fell then rallied against the US dollar to trade at breakeven amid investor optimism that the EU and UK could sign a post-Brexit deal soon. The GBP/USD currency pair today attempted to extend its 4-day rally boosted by the upbeat UK retail sales data and the positive investor sentiment that favoured risk assets.

Japanese Yen Extends Winning Streak As BoJ Maintains Ultra-Loose Support

The Japanese yen is extending its winning streak against many of its most traded currency counterparts on Thursday. The yen found support in the central bank leaving interest rates in subzero territory and keeping its bond-buying program. In addition to the ultra-loose efforts of the Bank of Japan (BoJ), the institution plans to coordinate with new Prime Minister Yoshihide Suga on a wide range of policies.

Chinese Yuan Extends Winning Streak, Tests 6.8 on Liquidity

The Chinese yuan is extending its winning streak against the US dollar to start the trading week, driven by a liquidity injection and a recovering economy. A slumping greenback further contributed to the yuan’s ascent, allowing the currency to soon test 6.8, which would be the first time since June 2019.

Japanese Yen Soft amid Risk Appetite, Manages to Hold Ground Against Some Rivals

The Japanese yen was relatively soft today due to the positive market sentiment limiting demand for the currency in its role as a safe haven. Nevertheless, the yen managed to hold ground against a range of its major rivals, even gaining on some of them.

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