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Pound Rallies Despite Housing Data and COVID-19, Tumbles on Brexit

The Sterling pound today ignored the adverse reports coming out of the UK to rally to new 3-month highs against the US dollar boosted by the upbeat investor sentiment. The GBP/USD currency pair ignored the weak housing data and posted gains as investors bought riskier assets and sold safe-haven ones.

Euro Rallies to 2-Month Highs on Positive Euro Area Data, Sentiment

The euro today rallied to new 2-month highs against the US dollar boosted by the improved market risk appetite as most equity markets across the globe rally. The EUR/USD currency pair gains came at the greenback’s expense, which lost ground against other currencies as investor demand for safe-haven assets receded.

Japanese Yen Rallies Against US Dollar on Safe Haven Flows

The Japanese yen today rallied against the US dollar driven by the risk-off market sentiment, which saw the yen benefit from safe-haven flows. The USD/JPY currency pair fell to new multi-week lows as the yen kept making gains against the greenback despite the DXY’s gains.

Euro Falls Against Strong Dollar Amid Rising Global Tensions

The euro today fell against the much stronger US dollar as tensions between China and the US skyrocketed, causing investors to seek refuge in safe-haven assets. The EUR/USD currency pair due to the prevailing risk-off market sentiment in the financial markets that saw European equity markets close lower for the day.

Swiss Franc Among Strongest Despite Negative Domestic Data

The Swiss franc was one of the strongest currencies today, rising against almost all other most-traded rivals. The only exception was the Great Britain pound, which managed to hold its ground versus the franc. Even very negative domestic data did not prevent the currency of Switzerland from rising.

Pound Rallies Despite Record COVID-19 Deaths and Johnson in ICU

The Sterling pound today rallied higher against the US dollar despite the fact that the UK Prime Minister Boris Johnson being hospitalised in ICU. The GBP/USD currency pair posted gains as buyers stepped in capitalising on the greenback’s fall from recent highs.

Euro Rallies From Multi-Year Lows Then Falls Amid Market Volatility

The euro today rallied higher against the US dollar early in the session as buyers stepped in pushing the pair higher from yesterday’s multi-year lows. The EUR/USD currency pair later lost momentum and headed lower driven by high demand for the US dollar.

Japanese Yen Strong as Coronavirus Panic Persists

The Japanese yen was among the strongest currencies on the Forex market today, rising against almost all of its major peers, though not against the Swiss franc, another refuge currency, and the surprisingly strong New Zealand dollar. The worsening coronavirus pandemic was driving investors to safer assets, including the yen. Domestic macroeconomic reports were mixed, giving no reason for the currency to move in any particular direction.

US Dollar Forecast for December 09-13, 2019

The US dollar performed very poorly last week despite the better-than-expected employment report. This week will have a couple important macroeconomic releases as well as a monetary policy meeting of the US central bank. Yet it is very likely that factors outside of the United States will have a bigger impact on the greenback.

Swiss Franc Extends Last Week’s Rally Against the US Dollar

The Swiss franc today extended last week’s rally against the US dollar as a cautious mood in the European stock markets drove investors to the safe-haven currency. The USD/CHF currency pair also benefitted from the greenback’s slump following the dovish FOMC rate decision on Wednesday as the Fed hinted at future rate cuts.

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