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Sterling Rallies on Merkel’s Optimism Regarding Irish Backstop

The British pound today exploded higher after the German Chancellor Angela Merkel expressed optimism that the Irish backstop issue could be resolved by October 31st. The GBP/USD currency pair rallied to new monthly highs above the crucial 2.2250 level as traders bought the Sterling in anticipation that her remarks would help prevent a no-deal Brexit scenario.

Pound Falls Ahead of Johnson’s Meeting With Angela Merkel

The British pound today fell to new daily lows reversing all of yesterday’s gains as traders remained cautious ahead of Boris Johnson‘s visit to Germany. Most analysts are expecting the British Prime Minister to return empty-handed from his talks with the German chancellor Angela Merkel.

US Dollar Mixed on Data, Lingering Trade Conflict

The US dollar is mixed against a myriad of currencies to finish the trading week. The greenback is contending with various economic numbers, geopolitical developments, and market events to carve out a concrete direction, which might be the case for the next several trading sessions. The next month might be pivotal for the buck’s performance for the remainder of 2019.

US Dollar Strengthens on Trade Concessions, Higher Inflation

The US dollar is strengthening on Tuesday, buoyed by the White House delaying tariffs on Chinese imports until December and higher consumer prices in July. The greenback was capped on greater expectations over the central bank cutting interest rates again next month.

Euro Falls Then Rallies as US Dollar Tanks on Trade Tensions

The euro today fell to new daily lows against the US dollar early in the European session in a knee-jerk move that was likely driven by algorithmic trading. The EUR/USD currency pair later rose from its lows as the single currency rallied against the greenback, which remained on the back foot due to the devalued yuan.

Euro Rallies as Stock Markets Crash on Sino-US Trade Tensions

The euro today rallied against the US dollar amid heightened trade tensions between the US and China, which triggered a global stock market sell-off. The EUR/USD currency pair rallied higher as investors sold the greenback and bought the single currency given the significant risks facing the United States.

Pound Falls On By-Election Results, Rallies Despite Upbeat NFP Report

The Sterling pound today fell to its daily lows as investors reacted to the results of a by-election where the ruling Conservative Party lost a crucial seat. The GBP/USD currency pair later rallied higher after the release of the upbeat US non-farm payrolls data in the early American session.

US Dollar Mixed As Economy Adds 164k Jobs, Faces Renewed Trade Tensions

The US dollar is mixed at the end of the trading week as a new lower-than-expected July jobs report highlighted how robust the national economy is as a diverse array of industries enjoyed gains and more people entered the workforce. But the greenback contended with renewed trade tensions between the US and China, which sent leading stock indexes into negative territory in the early part of the trading session.

US Dollar Higher on Fed Rate Cut Fallout, Capped by New Trump Tariffs

The US dollar is gaining on several major currency rivals in public trading on Thursday. But the US Dollar Index is heading in the opposite direction, falling below 98.5. The Federal Reserve’s cut to interest rates, President Donald Trump’s new tariffs on China, and economic data are driving the greenback’s trade.

Pound Falls to 2.5-Year Lows, Ignores BoE and Rallies on USD Weakness

The British pound today fell to 2.5-year lows against the much stronger US dollar, which was boosted by yesterday’s FOMC rate decision. The GBP/USD currency pair was barely affected by the Bank of England‘s interest rate decision before rallying higher later driven by the weak greenback.

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