The Sterling pound today rallied higher against the dollar boosted by the UK Parliament’s vote to implement the post-Brexit trade deal agreed with the EU. The GBP/USD currency pair’s gains were limited by the rising coronavirus cases driven by the virus’s more virulent strain and new lockdown measures.
Today, the euro rallied against the dollar boosted by the risk-on market sentiment as global equities rallied just two days to the end of 2020. Investors remained bullish on the markets boosted by the US’s positive stimulus news, where lawmakers almost approved $2,000 stimulus checks.
Today, the Sterling pound fell against the dollar as investors turned bearish on the currency following the post-Brexit trade deal reached on Christmas Eve. The GBP/USD currency pair fell today amid thin trading conditions as the UK and European markets remained closed in honour of Boxing day celebrations.
The euro today alternated between gains and losses and gains against the dollar rallying on the news such as the trade deal between China and 14 Asia-Pacific countries. The EUR/USD currency pair later gave up most of its gains after speeches from several European Central Bank policymakers that were quite dovish later in the day.
The Japanese yen was trading either flat or lower against most other currencies, though it managed to gain on the US dollar. Japanese macroeconomic data released on Friday was mixed.
The Japanese yen was the weakest currency on the Forex market today but among the strongest for the week. With no unifying theme to drive markets, it is hard to pinpoint an exact reason for the currency’s poor performance, though some market analysts attributed it to the positive market sentiment that made the yen unnecessary in its role of a safe haven. As for Japan’s macroeconomic reports, they were not that bad but it hardly […]
The sterling pound today alternated between losses and gains against the US dollar driven mostly by market sentiment given the empty UK dockets. The GBP/USD currency pair later rallied after the British government confirmed that it was committed to sealing a post-Brexit trade deal with the EU.
The Chinese yuan is holding steady at the end of the trading week, despite President Donald Trump revealing that the second phase of a US-China trade agreement is no longer a top priority. The president told reporters aboard the Air Force One that the relationship between the world’s two largest economies is “severely damaged” after the coronavirus pandemic. The yuan climbed back above the key 7 threshold after his comments, but […]
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.
The Chinese yuan is strengthening against several Western currencies on Monday, driven by a better-than-expected private sector survey of manufacturing in the world’s second-largest economy. The yuan is also trying to find direction on reports that Beijing is requesting state-run firms to suspend purchases of American agricultural goods. As many analysts anticipate another down year for the yuan, could a renewed trade dispute slam the offshore currency?
