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Pound Rallies on UK Manufacturing PMI and Positive Sentiment

The British pound today rallied higher against the US dollar extending yesterday’s positive momentum boosted by Boris Johnson‘s promises of more spending to boost the UK economy. The weak dollar also raised the GBP/USD currency pair as investors reacted to news that a potential coronavirus vaccine had shown positive results in early clinical trials.

Pound Rallies Despite Housing Data and COVID-19, Tumbles on Brexit

The Sterling pound today ignored the adverse reports coming out of the UK to rally to new 3-month highs against the US dollar boosted by the upbeat investor sentiment. The GBP/USD currency pair ignored the weak housing data and posted gains as investors bought riskier assets and sold safe-haven ones.

Pound Rallies on Brexit Rumours Despite Weak UK Housing Data

The British pound today rallied higher against the US dollar on hopes that the UK and the Europen Union would reach a post-Brexit deal according to recent news headlines. The GBP/USD currency pair rallied to new monthly highs as investors dumped the dollar due to the ongoing violent demonstrations and the risks associated with the same.

Great Britain Pound Soft After Economic Data, PM Statement

The Great Britain pound rallied against the very weak commodity currencies but fell against majors today. The sterling was under pressure from extremely poor domestic macroeconomic data and Brexit worries but had some support from hopes for an end of the quarantine period.

AUD Extends Drop After RBA Policy Minutes, Poor Economic Data

The Australian dollar attempted to rally today after the release of monetary policy minutes from the Australian central bank and domestic macroeconomic data but failed and continued its crash to new multi-year lows. The outlook for another interest rate cut was not helping the Aussie either.

Pound Rallies on US Dollar Weakness and Coronavirus Headlines

The Sterling pound today rallied against the US dollar in a turn of events that saw the dollar lose ground against most of its peers. The GBP/USD rallied above the crucial 1.30 level as demand for the greenback weakened despite new coronavirus infections.

Chinese Yuan Gains As PBoC Cuts Rates, Hints at More Stimulus

The Chinese yuan is strengthening against the major currency rivals to kick off the trading week, buoyed by investors’ hopes that Beijing will launch additional fiscal and monetary stimulus to protect the economy from the Wuhan coronavirus fallout. Over the last two weeks, policymakers have unveiled economic measures to limit the damage from Covid-19, and financial markets have been ebullient over the announcements.

Great Britain Pound Soft After BoE Governor Hints at Interest Rate Cut

The Great Britain pound dropped today, though by now it has managed to trim losses against some of its rivals. The main reason for the decline were comments from Bank of England Governor Mark Carney that suggested a possible interest rate cut. Continuing Brexit uncertainty was also hurting the currency.

Australian Dollar Surges Despite Wednesday’s Underwhelming Data

The Australian dollar surged against other most-traded currencies today. With Wednesday’s domestic macroeconomic data being negative, it is hard to tell what the reason for the sharp rally was. One of the possible factors boosting the Aussie were hopes for a delay of US tariffs on Chinese goods that should kick in on December 15.

US Dollar Sideways on Housing Slump, Doubts Over US-China Deal

The US dollar is trading relatively sideways against several currency pairs midweek. The greenback failed to find a concrete direction after housing data disappointed investors and a prominent Republican senator raising doubts on progress in US-China trade negotiations. The buck is trying to salvage the week after falling the first two sessions.

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