The British pound is rallying on Tuesday after it was confirmed that former London Mayor Boris Johnson would become Britain’s new prime minister. In addition to a higher pound, European markets appeared to cheer on the pro-Brexit politician as leading indexes recorded 1% gains. But that did not prevent disappointing data from capping the currency’s ascent.
The Great Britain pound was one of the strongest currencies today, gaining on most of its major rivals, though failing to gain on the extremely strong Australian dollar and almost erasing gains versus the New Zealand dollar. The factors supporting the currency were a reduced chance of a no-deal Brexit and a surprisingly good retail sales report.
The Sterling pound today fell to new 27-month lows against the US dollar as markets reacted to a poor UK jobs report and the uncertain British political environment. The GBP/USD currency pair was also adversely affected by comments from the two remaining Conservative Party candidates saying that the Irish backstop was dead.
The British pound today fell against the US dollar reversing all of Friday’s gains amid a lack of any major releases from the UK docket. The GBP/USD currency pair fell due to the absence of catalysts to prop up the Sterling with the pair’s performance being driven largely by investor sentiment.
The Sterling pound today rallied higher against the US dollar following Mark Carney‘s speech at a press conference following the release of the UK’s financial stability report for July. The GBP/USD currency pair rallied higher driven by the greenback’s overall weakness as markets continue to price-in future rate cuts by the US Federal Reserve.
The Great Britain pound was mixed today, falling against some rivals while rising versus others. Such behavior is not surprising, considering that Britain’s macroeconomic data released over the trading session was mixed as well. The sterling was trying to erase losses but currently is not successful.
The Great Britain pound was weak on Tuesday amid risk aversion on the Forex market. Domestic macroeconomic data was not doing the sterling any favors either.
The Great Britain pound was the weakest major currency on the Forex market today. The main reason for that was the string of bad PMI reports, which led to concerns that Britain’s economic growth slowed in the second quarter of 2019.
The Great Britain pound was one of the weakest currencies on the Forex market during Tuesday’s trading session. The likely reasons for that were poor domestic macroeconomic data and comments from the central bank’s chief.
The British pound today fell against the US dollar following the release of weak UK manufacturing data by Markit Economics failing to capitalize on Friday’s bullish attempt. The GBP/USD currency pair was under pressure from the revitalized greenback following the pause in trade hostilities announced by the US and China over the weekend.
