The euro today traded sideways against the US dollar before falling to its daily lows in the mid-European session driven by the prevailing risk-off market sentiment. The EUR/USD currency pair recovered and rallied higher in the early American session following the release of the ECB Governor Christine Lagarde‘s testimony.
The Sterling pound today fell to its daily lows early in the London session following the release of weak UK services PMI data for September by IHS Markit. The GBP/USD currency pair later rallied higher as British leaders expressed their support for the new Brexit proposals submitted yesterday by Boris Johnson‘s administration.
The Great Britain pound faced a sell-off again after the European elections over the weekend. The outcome of the voting showed a surge of support for the Brexit party, increasing chances of a “no-deal Brexit”.
The euro today fell against the US dollar despite pro-EU parties securing majority of the Parliamentary seats in the recently concluded election. The EUR/USD currency pair today fell from its Asian session highs and dropped to daily lows where it traded sideways for the rest of the day.
The Sterling pound today traded mostly sideways against the US dollar as it solidified gains made from yesterday’s 10-week lows as the Brexit impasse continued. The GBP/USD currency pair dropped lower following the release of US Q1 GDP data before quickly reversing the losses and printing new daily highs driven by positive investor sentiment.
The Sterling pound today traded at 2-month lows against the US dollar as European markets reopened following the long Easter weekend. The GBP/USD currency pair today fell to new lows as the greenback rallied higher in the American session amid a lack of releases from the UK docket.
The euro today rallied for the third straight session against the US dollar as investors reacted to the mixed US inflation data released today. The EUR/USD currency pair’s rally was further boosted by Brexit developments as the EU and the UK agreed to a raft of joint declarations on the Irish backstop issue.
The British pound today rallied higher against the US dollar driven by investors hope that a last-minute Brexit deal could be reached before tomorrow’s crucial vote. The British Prime Minister was en-route to Strasbourg at the time of writing in a last-minute effort to secure a new deal and resolve the thorny Irish backstop issue by tomorrow.
The US dollar rose against the euro and a basket of other major peers on Monday, as investors expected the greenback to get closer to parity with the shared currency. European Central Bank President Mario Draghi made a statement today that delivered a dovish outlook for the central bank’s monetary policy.
ECB President Mario Draghi has signalled that there is a good chance that policymakers will add stimulus to the eurozone economy in December and that is sending the 19-nation euro down today. Also dropping are commodities.
