The Great Britain pound was the strongest currency on the Forex market today, rallying against other most-traded counterparts. But analysts were not convinced by the rally, arguing that it was a result of short-sellers taking profits, not supportive fundamentals. With not many fundamental factors supporting the currency and several high-profile events this week, specialists think that it is too risky to buy the sterling.
The Great Britain pound fell against all other most-traded currencies today as the no-deal Brexit looks more and more likely. Better-than-expected housing data released in Britain on Monday did nothing to help the currency.
The Great Britain pound rose today despite the gloomy outlook and an unexpected drop in the construction index. While the sterling has lost its gains versus commodity currencies by now, it continued to trade above the opening level against other most-traded peers.
The Swiss franc fell against almost all of the most-traded currencies today despite the near-record jump of the KOF Economic Barometer. The Swissie managed to gain only against the currencies that were weak themselves, like the US dollar, dragged down by yesterday’s speech of Federal Reserve Chairman Jerome Powell, and the Canadian dollar, which suffered from a sharp economic downturn in Canada.
The Great Britain pound was extremely weak today, falling against all other most-traded currencies with the exception of safer ones, like the Japanese yen and Swiss franc (but not the US dollar, which outperformed the sterling). According to market analysts, the main reasons for the drop were Brexit fears and concerns about government spending plans.
The Swiss franc was one of the strongest currencies today, rising against almost all other most-traded rivals. The only exception was the Great Britain pound, which managed to hold its ground versus the franc. Even very negative domestic data did not prevent the currency of Switzerland from rising.
The Great Britain pound was soft today, erasing its earlier gains versus commodity currencies. The reason for the currency’s underwhelming performance was a worse-than-expected retail sales report. But the sterling did not perform particularly poorly despite the rather negative data and even managed to hold gains against a number of currencies, including the euro and the Swiss franc.
The Swiss franc rallied today amid the negative sentiment among investors. The franc is considered a safe currency, meaning that traders prefer to buy it in times of fear and uncertainty. And on Tuesday, there were plenty of news to spook speculators. Currently, though, the Swissie has lost its gains against most other rivals.
The Swiss franc was mixed today, rising against some currencies, staying flat versus others, and crashing against the US dollar and the Japanese yen. The market sentiment was stabilizing following yesterday’s risk aversion, limiting the appeal of safe currencies. Domestic macroeconomic data was positive and helpful to the Swissie.
The Great Britain pound fell against other major currencies today despite the slightly better-than-expected inflation print. The threat of hard Brexit remains the main detrimental factor to the sterling. Producer prices were also a negative factor, falling last month unexpectedly.
