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Euro Trades Sideways Above 1.17 As Investors Await Fed Decision

The euro today fell against the US dollar after hitting highs last seen in September 2018 yesterday as the greenback sold off. The EUR/USD currency pair was stuck trading in a sideways range slightly lower from its opening price driven by the non-volatile market environment.

Pound Swings From Losses to Gains on Shifting Market Sentiment

The Sterling pound today headed lower at the start of the session, driven by the risk-off market sentiment from yesterday as investors reacted to escalating US-China tensions. The GBP/USD currency pair later recovered and rallied higher primarily driven by the greenback’s oscillating between gains and losses as it ignored upbeat UK jobs data.

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.

British Pound Falls on Profit-Taking After Massive Rally Last Week

The Sterling pound today fell to fresh lows against the US dollar as investors took profits after last week’s dizzying rally where the pound outperformed all G10 currencies. The GBP/USD currency pair today fell despite the upbeat investor risk appetite that saw global equities rally amid hopes of an economic recovery post-COVID-19.

Pound Rallies Against Weak Dollar on New £30 Billion Stimulus Plan

The pound today rallied higher against the US dollar, driven by positive investor sentiment and the weakening of the greenback against most of its peers. The GBP/USD currency pair today rallied to new highs as investor risk appetite soared buoyed by the government’s new fiscal stimulus plan.

Euro Crashes on Risk-Off Sentiment, Recoups Losses on Better Mood

The euro today fell against the US dollar during the Asian session, driven by the risk-off market sentiment that saw most Asian equity markets selloff. The EUR/USD currency pair recovered some of its losses during the European session despite the mixed releases from across the euro area.

Euro Rallies Against on Positive Sentiment and Releases, Later Falls

The euro today rallied against the US dollar during the first half of today’s session before turning lower later and giving up most of its gains to trade flat for the day. The EUR/USD currency pair’s behaviour was primarily influenced by the investor risk appetite of lack thereof as well as the mixed releases from across the euro area.

Pound Plunges to 4-Week Lows on Brexit Jitters, Rising COVID-19 Cases

The Sterling pound today fell to new 4-week lows against the US dollar given the empty UK docket and the prevailing risk-off market sentiment, which favoured the dollar. The greenback’s rally triggered the GBP/USD currency pair’s crash amid a confluence of negative factors that weighed on the pound, including fears of a no-deal Brexit.

Euro Advances on Upbeat Markit Flash PMIs and Positive Sentiment

The euro today rallied higher against the US dollar boosted by the improved investor risk appetite, which saw investors pile into riskier assets. The EUR/USD currency pair’s rally was also fueled by the positive PMI prints released by Markit Economics.

Japanese Yen Attempts to Hold Ground After PMI Releases, Concerns About US-China Trade Deal

The main theme for today was the release of PMI reports for various parts of the world, though the topic of the US-China trade deal was also in the news. Overall, markets were in a positive mood, favoring high-beta currencies. Surprisingly, that did not result in a total sell-off of the Japanese currency. The yen fared rather well, holding its ground against most of its rivals and even gaining on some of them.

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