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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.

Euro Rallies on New of Potential COVID-19 Cure, Positive Sentiment

The euro today rallied higher against the US dollar on news of a possible cure for the novel coronavirus, which saw investors bid up riskier assets such as the single currency. The EUR/USD currency pair was also boosted by investor optimism regarding the outcome of the ongoing recovery talks between finance ministers from the European Union‘s member countries.

Euro Trades up and Down Amid Shifting Market Dynamics

The euro today traded both higher and lower against the US dollar driven by shifting market dynamics in favour of each other over sustained periods. The EUR/USD ended up trading flat after falling and rising severally primarily driven by investor sentiment amid a mostly empty European docket.

Euro Falls on Risk-Off Market Sentiment Amid Global Recession Fears

The euro today fell against the US dollar driven by the risk-off market sentiment dominated by fears of a looming global recession in the aftermath of the COVID-19 pandemic. The EUR/USD currency pair extended yesterday’s decline that was triggered by the Fed Chair Jerome Powell’s dismissal of negative interest rates in the US.

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