The pound today rallied briefly against the US dollar before falling to its daily lows as traders continued to take profits from the post-election rally. The GBP/USD currency pair was also affected by the weak PMI data released by Markit Economics in the London session and Brexit optimism.
The euro today fell against the US dollar erasing most of yesterday’s gains, which were driven by the Conservative Party‘s landslide win in the UK elections. The EUR/USD currency pair today traded sideways before plunging lower in the early American session as the greenback rallied higher boosted by positive trade headlines.
The Great Britain pound soared today after the landslide victory of the Conservative party in the UK election. With Conservatives securing a majority in the House of Commons, chances for disorderly Brexit fell dramatically, though hard Brexit remains a possibility. Currently, the sterling has trimmed its gains but is still trading far above the opening level.
The euro today fell against the US dollar in a risk-off market environment as investor fears about an escalation in the US-China trade war dominated the markets. The EUR/USD currency pair recovered in the American session due to the greenback’s weakness despite the release of in-line US inflation data.
The British pound today held on to yesterday’s gains against the US dollar two days ahead of Thursday’s elections with opinion polls predicting a win by the Conservative Party. The GBP/USD currency pair today rose to 8-month highs as investor optimism about Britain’s future including Brexit remained high.
The Sterling pound today rallied to a new 7-month high against the US dollar before retreating as the London session progressed and the American session began. The GBP/USD kept its bullish bias as the Conservative Party maintained a comfortable lead against the opposition Labour Party ahead of Thursday’s snap general election.
The Great Britain pound performed rather well last week, but this week’s behavior of the UK currency will likely be extremely erratic and unpredictable. The reason for that is the UK general election on Thursday. The outcome of the vote will shape Britain’s political landscape, and thus it will determine chances for a no-deal Brexit.
The pound today rallied to new multi-week highs against the US dollar buoyed by positive sentiment as the latest opinion polls revealed that Boris Johnson is still leading Labour’s Jeremy Corbyn. The GBP/USD’s rally was further fueled by the positive UK construction PMI released by Markit Economics showing that the country’s construction industry was improving.
The Sterling pound today traded near yesterday’s lows as the media criticised Prime Minister Boris Johnson for skipping a crucial debate on the climate crisis. The GBP/USD currency pair fell as investors sold the pound following Johnson’s recent moves that could see his popularity decline ahead of the December elections.
The Sterling pound today continued to fall against the US dollar as Boris Johnson‘s ratings fell following yesterday’s public debate against Jermy Corbyn. The GBP/USD currency pair dropped as investors remained concerned about Corbyn’s rising popularity, which could lead to a hung Parliament after the elections.
