The Sterling pound today rallied higher against the much weaker US dollar after finding support at a critical support level that has held for the past two weeks. The GBP/USD currency pair seemed immune to the rising political tensions between the UK and China regarding the Hong Kong extradition treaty.
The euro is trading at its best level against the US dollar since March as European Union (EU) leaders confirm they have made progress on stimulus and debt talks. The currency had been mainly unaffected by the central bank leaving interest rates and its quantitative easing efforts unchanged, but the fiscal policy could drive the euro for the remainder of the month.
The Swiss franc continues to strengthen against its most traded currency competitors to close out the trading week as the US Dollar Index slipped to a one-month low. The franc has been making gains on growing confidence in global financial markets, coronavirus vaccine hopes, and a weakening greenback. The franc is strengthening despite the central bank continuing to defend its currency interventions.
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.
The US dollar is trading relatively flat against its currency competitors on Thursday as retail sales surged in June but weekly jobless claims disappointed. With Europe choosing to pause on expanding its relief and stimulus measures, the broader global financial market has been subdued, providing little momentum for the greenback.
The US dollar is trading flat against multiple G10 currency rivals on Tuesday, as the government reported that inflation accelerated last month. The greenback has been struggling as of late due to greater confidence in the broader financial market. But with the four-month rally seemingly fading, can the buck take advantage and regain its momentum? It all depends on the coronavirus pandemic.
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.
The euro today rallied higher against the US dollar on news of a possible cure for the novel coronavirus, which saw investors bid up riskier assets such as the single currency. The EUR/USD currency pair was also boosted by investor optimism regarding the outcome of the ongoing recovery talks between finance ministers from the European Union‘s member countries.
The US dollar is trading slightly lower against a myriad of G10 currency rivals on Thursday after the US government reported that the number of Americans filing for first-time unemployment benefits beat market forecasts. The greenback has been struggling in recent sessions as investors become more confident in the broader financial market and pour into riskier bets, despite the resurgence of confirmed coronavirus cases in the background.
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.
