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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.

Sterling Volatile amid Brexit Uncertainty, Disappointing Data

The Great Britain pound was extremely volatile today, sinking intraday but bouncing later. Currently, the sterling is trading above the opening level. The main reason for the currency’s volatile moves was uncertainty over the Brexit, though today’s mostly underwhelming macroeconomic data also had its negative impact on the pound.

Chinese Yuan Weakens as US-China Trade Talks Begin, Housing Disappoints

The Chinese yuan is weakening against a handful of currency rivals on Thursday as the world’s two largest economies begin low-level trade negotiations in Washington. With analysts anticipating economic growth to slip under 6%, and new housing data falling short of market expectations, Beijing is feeling bearish. A trade deal might be the only thing that saves the country.

Australian Dollar Trades Lower After RBA Minutes

The Australian dollar declined today against other most-traded currencies. While the general market sentiment was unfavorable to riskier commodity currencies, analysts argued that the main reason for the Aussie’s decline was the release of the central bank’s monetary policy minutes. Domestic macroeconomic data was poor but better than pessimistic forecasts.

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