The Sterling pound today rallied to new multi-month highs against the US dollar following the release of the upbeat UK inflation data earlier today. The GBP/USD currency pair today rallied to new 8-month highs against the much weaker greenback on the news.
The Japanese yen started today’s session by gaining some ground against major currencies before losing most of its gains during the American trading session. The strengthening of the Japanese yen followed today’s announcement by the Bank of Japan regarding interest rates on deposits made using the yen.
This was extremely volatile week due to the outcome of the US presidential elections that was uncertain till the very end. The US dollar came out among the strongest of the most-traded currencies after the result of the voting became clear, though the strongest one was the Great Britain pound.
The Australian dollar continued falling on Friday to extend its weekly loss. The currency remained vulnerable to concerns that the Australian economy could be negatively affected by new Trade policies in the USA following Donald Trump’s presidency.
The dollar is set to end a volatile week on Friday following an impressive rise over the past two days. The US currency maintained most of its gains against the Japanese yen and the euro. While the Chinese yuan continued to decline against the dollar on expectations that emerging markets could suffer from Donald Trump’s protectionist approach.
A day after the shock US election result, sterling continues to increase in value against the dollar. On Thursday, the pound continued to gain further momentum, rising by 0.1% during today’s trading.
The Japanese yen continued to lose against the US dollar on Thursday following its rapid decline yesterday, as the greenback recovered from the initial reaction to Donald Trump’s victory in the US presidential election.
The US dollar rose on Thursday to its highest level since October 27 as the currency recovered from all of its recent losses, which followed Donald Trump’s victory in the US presidential election. The dollar then proceeded to erase its declines during the previous two weeks as traders adjusted to the surprising win by Trump.
The Canadian dollar faced wild ups and downs on Wednesday after Republican Donald Trump became the newest president of the USA, which triggered fears toward the future of economic relationships between Canada and its biggest trading partner.
The US dollar sharply fell earlier today after the US presidential election was concluded with a victory for Republican candidate Donald Trump. The currency then recovered all its losses in a day of volatile trading.
