The Sterling pound today rallied higher against the US dollar driven by positive investor sentiment about EU-UK relations post-Brexit due to recent events. The GBP/USD currency pair today was up as amid resurgent investor risk appetite, in which investors buy riskier currencies.
The Sterling pound today fell against the US dollar as investors bought the safe-haven greenback in anticipation of further stimulus spending by the government. The GBP/USD currency pair got a brief respite from the optimism about a potential Brexit deal, but this was not enough to push the cable into positive territory.
The euro today appeared to cool off against the US dollar following yesterday’s massive rally that saw the EUR/USD currency pair breach the 1.1080 level as the greenback fell. The currency pair today traded sideways alternating between gains and losses amid a lack of significant releases from the European dockets.
The British pound today exploded higher after the German Chancellor Angela Merkel expressed optimism that the Irish backstop issue could be resolved by October 31st. The GBP/USD currency pair rallied to new monthly highs above the crucial 2.2250 level as traders bought the Sterling in anticipation that her remarks would help prevent a no-deal Brexit scenario.
The Sterling pound today traded in a wide range against the US dollar driven by multiple Brexit headlines as the deadline for Britain’s exit from the EU looms. The GBP/USD currency pair today traded in an almost 100-pip range as investors reacted to different headlines most of which indicated that a Brexit deal was not close to being done.
The euro today held on to its gains in the American session despite the release of strong US inflation data, which boosted the greenback. The EUR/USD currency pair has rallied significantly higher overnight after European leaders finally reached a deal on Migration at the EU Summit.
The EUR/USD currency pair today traded in a tight range with minimal movement given the empty US and EU dockets. There were no major factors that could influence the direction of the currency pair, however, the US dollar strengthened against the euro later in today’s session.
The EUR/USD currency pair today hit new session lows as the single currency weakened against the greenback on positive US data. The euro weakened against the US dollar upon the release of positive producer price index data by the Bureau of Labor Statistics, and the release of positive initial jobless claims data, and continuing claims released by the Department of Labor.
The EUR/USD currency pair today dropped drastically before the speech by European Central Bank president, Mario Draghi, where he outlined a hawkish outlook. The currency pair recovered briefly after Mario Draghi‘s speech, but was trading at a much lower price than its opening price for most of the day.
The US dollar today rallied higher during the North American session despite the increased selling pressure on the currency, according to the latest CFTC report. The selling pressure on the greenback stems from last week when the currency did not post any improvements, despite the positive nonfarm payrolls. The greenback’s performance, as tracked by the US Dollar Index, was lacklustre during the European session but improved drastically during the American session as the Index hit […]
