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Great Britain Pound Firm Despite Falling Construction Index, Outlook for Monetary Easing

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.

Aussie Soft After Economy Enters First Recession in Almost 30 Years

The Australian dollar was soft today after data confirmed that Australia’s economy has entered a recession. The losses were limited, though, and the Aussie managed to remain flat against a range of peers. The currency had a muted reaction to yesterday’s monetary policy announcement from the Australian central bank.

Australian Dollar Among Strongest on Economic Data, Risk Appetite

The Australian dollar was among the strongest most-traded currencies today thanks to the risk appetite caused by the surge of the Nikkei stock index. Decent macroeconomic data in China, Australia’s biggest trading partner, and in Australia itself also provided support to the Aussie.

Euro Seesaws Against the Dollar on Eurozone and US Macro Data

The euro today seesawed between losses and gains against the US dollar following yesterday’s massive drop after the release of the FOMC meeting minutes. The EUR/USD traded in a wide range today marked by declines and rallies as the single currency remained mainly at the greenback’s mercy after yesterday’s resurgence.

Australian Dollar Mixed After RBA Monetary Policy Meeting Minutes

The Australian dollar was mixed against its most-traded counterpart during today’s trading session but was generally holding ground. The session was very light in terms of macroeconomic releases, with only notable ones being the minutes of the latest monetary policy meeting released by the Reserve Bank of Australia and US housing data.

Australian Dollar Soft amid Sino-US Tensions

The Australian dollar was one of the weakest currencies on the Forex market today, driven down by risk aversion caused by increasing geopolitical tensions between the United States and China. Domestic macro releases were decent but that did not provide the currency much help.

Progress in COVID-19 Vaccine Development Drives Yen Higher vs. Safe Peers, BoJ Stands Pat

The Japanese yen traded flat or little lower versus the majority of other most-traded currencies today but gained on other safe currencies, like the US dollar and the Swiss franc. The main event in Japan today was the monetary policy announcement from the Bank of Japan.

Japanese Yen Rallies Ahead of FOMC Meeting, Gives Up Gains Later

The Japanese yen rallied intraday during Wednesday’s trading session but has lost gains against the majority of its most-traded peers. The currency did not fall against all of them, though, most notably keeping gains versus the US dollar ahead of the monetary policy announcement from the Federal Open Market Committee later today.

Sterling Weakest After UK Construction PMI Sinks to Record Low

The Great Britain pound was the weakest currency on the Forex market during Wednesday’s trading. Initially, the euro was the second weakest but currently, the Canadian dollar replaced it, falling versus the shared European currency and trading about flat against the sterling. The drop of the UK construction index to the record low was among possible reasons for the slump of Britain’s currency.

Euro Trades Sideways on Mixed Macro Prints and ECB Rate Decision

The euro today alternated between gains and losses against the US dollar amid a raft of releases from across the euro area that kept the pair trading in a wide range. The EUR/USD currency pair reacted differently to the mixed European announcements such as Germany’s retail sales data among others as it struggled to find direction.

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