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Pound Falls Against Dollar on Dovish Bailey Comments, Later Recoups Losses

The Sterling pound fell against the dollar as markets reacted to dovish comments by the Bank of England Governor regarding the bank’s bond purchases. The GBP/USD currency pair recovered most of its losses later in the session largely due to the dollar’s weakness as more European countries halted AstraZeneca’s vaccine’s rollout.

Euro Rises After Update to Economic Outlook

The euro was strong today, rising against its major peers, after the release of the economic outlook for the eurozone and the European Union as well as economic data in Germany.

Turkish Lira Rises As Turkey-Greece Initiate Resolution Process for Maritime Boundaries

The Turkish lira strengthened against its US peer to kick off the trading week, buoyed by reports that Turkey and Greece could soon resolve Maritime boundaries. The lira found additional support on decent economic data, as well as optimistic forecasts for 2021. Can the lira keep up the momentum after a decent start to the first few weeks of the calendar year?

British Pound Rises As UK, EU Reach Post-Brexit Trade Agreement

The British pound sterling is rising on Christmas eve as it appears the United Kingdom and the European Union have reached a new post-Brexit trade agreement, averting chaos in the broader economy and financial markets. The deal comes as Great Britain was set to leave the 27-nation bloc’s economic structures at the end of the year.

British Pound Climbs to Two-Year High on Optimism Over Brexit Trade Deal, Data

The British pound sterling advanced to its highest level against the US dollar in more than two years, driven by a weakening greenback and lower-than-expected inflation. The currency is also finding support on growing odds of a Brexit trade deal after officials stated that both sides are creating a path to establishing an agreement.

USD/TRY Retests 7.8 As Inflation Surges, Geopolitical Tensions Escalate

The Turkish lira’s recovery since hitting all-time lows against the US dollar and the euro has stalled. The currency is once again testing 7.8 per dollar amid ballooning inflation and rising geopolitical tensions in the region. Global financial markets have been apprehensive about Ankara’s potential involvement in the Armenia-Azerbaijan conflict, with President Recep Tayyip Erdogan supporting Baku in the renewed battle.

Sterling Pound Falls on Brexit Jitters, Later Rallies on Reassurances

The sterling pound today alternated between losses and gains against the US dollar driven mostly by market sentiment given the empty UK dockets. The GBP/USD currency pair later rallied after the British government confirmed that it was committed to sealing a post-Brexit trade deal with the EU.

Euro Mixed As EU Reaches Breakthrough in Recovery Fund

The euro is trading relatively subdued against many of its G10 currency rivals on Tuesday, despite the European Union (EU) reaching a breakthrough agreement over a new $2 trillion fiscal stimulus and relief plan. Following marathon sessions of 27 EU governments, officials were finally able to compromise on this monumental and unprecedented spending package that is aimed at resuscitating the eurozone economy. Will it be enough to stimulate the eurozone […]

Euro Holds Steady As EU Leaders Engage in ‘Mission Impossible’ Talks

The euro is trading at its best level against the US dollar since March as European Union (EU) leaders confirm they have made progress on stimulus and debt talks. The currency had been mainly unaffected by the central bank leaving interest rates and its quantitative easing efforts unchanged, but the fiscal policy could drive the euro for the remainder of the month.

Swiss Franc Mixed As SNB Boosts Liquidity Measures, Fitch Maintains ‘AAA’ Rating

The Swiss franc is trading mixed to kick off the trading week as Switzerland’s economy attempts to be resuscitated in the aftermath of the COVID-19 pandemic. The Swiss franc is struggling for consistent direction against a myriad of currency rivals, with the central bank launching additional liquidity measures and Fitch maintaining its AAA rating of the Swiss economy.

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