The British pound today fell to new lows against the US dollar based on the uncertainty surrounding the Brexit negotiations as both the EU and the UK stick to their opposing positions. The GBP/USD currency also headed lower following the release of the latest UK manufacturing data, which revealed zero expansion in the sector.
The US dollar ended both the last trading week of August and the month itself with solid gains. Should traders remain bullish on the currency? Analysts do not see reasons not to be.
At the end of last week, the Canadian dollar posted its biggest gain since January, thanks in large part to the fact that Canada’s economy grew more than forecast for the second quarter. This pleasant surprise, along with demand for riskier assets and climbing oil prices, are boosting the loonie today.
