The Great Britain pound rose against the US dollar during Tuesday’s trading but fell against other currencies, including the euro. The sterling’s gains versus the greenback were the result of the US currency’s weakness after the missile launch by North Korea. Fundamentals were not particularly supportive to the UK currency itself, with the Brexit remaining a large question mark. Economic data was not especially good either as the Nationwide House Price … “Pound Gains on Dollar, Remains Weak Against Other Majors”
Author: admin_mm
Traders Seek Safety After North Korea Fires Missile Over Japan
Forex traders were seeking safe options during the current trading session after North Korea fired a ballistic missile over Japan. Safe currencies like the Swiss franc and the Japanese yen profited as a result. North Korea launched an unidentified ballistic missile today, which fell in the Pacific Ocean after flying over Japan. Japanese Prime Minister Shinzo Abe stated after the event: A missile passing over Japan is … “Traders Seek Safety After North Korea Fires Missile Over Japan”
Sterling Remains Vulnerable to Brexit Uncertainty
The Great Britain pound fell against the US dollar intraday but has recovered by now. The sterling was more soft against other currencies, driven down by the Brexit uncertainties. Another round of negotiations between the United Kingdom and the European Union will happen this week. While the UK government showed signs of softer stance, it is likely that the discussion will be as tough as the previous ones. That sapped the sterling’s … “Sterling Remains Vulnerable to Brexit Uncertainty”
EUR/USD Hits New Two-Year Highs on Weak US Dollar
The EUR/USD currency pair today hit a 31-month high during the North American session after the release of disappointing US advance goods trade balance data. The currency pair’s rally started on Friday after Janet Yellen‘s and Mario Draghi‘s speeches at the Jackson Hole symposium, which triggered the euro’s rally against the greenback. The currency pair opened today’s session with a sudden decline from highs set during the Asian session, but … “EUR/USD Hits New Two-Year Highs on Weak US Dollar”
PBoC Sets Daily Fixing for Yuan Higher
The Chinese yuan rose against the US dollar today as China’s central bank allowed its currency to appreciate to the strongest level in more than a year. The People’s Bank of China set the midpoint for the currency at 6.6353 per dollar, the highest level since August 19, 2016. The yuan is allowed to trade 2% above or below the reference rate. It resulted in a good performance of the yuan, though other Asian currencies were strong versus … “PBoC Sets Daily Fixing for Yuan Higher”
Japanese Yen Rises Versus Euro in Monday’s Quiet Trading
The Japanese yen rose against some major currencies, including the euro and the Great Britain pound, today. The gains were limited, though, and the yen was largely flat against other majors and even fell a bit against commodity currencies. Traders were rather disappointed by the last week’s Jackson Hole Symposium as neither Federal Reserve Chairwoman Janet Yellen, nor European Central Bank President Mario Draghi talked about monetary … “Japanese Yen Rises Versus Euro in Monday’s Quiet Trading”
US Dollar Ends Week Vulnerable amid Political Concerns
The US dollar ended the week with significant losses versus the euro amid concerns about the turbulent political climate of the United States. The Jackson Hole Symposium in Wyoming was in the traders’ focus this week. Yet US President Donald Trump grabbed the markets’ attention by his threats of a government shutdown, which affected the dollar negatively. The meeting itself was not positive for the US currency either as Federal Reserve Chairwoman Janet Yellen … “US Dollar Ends Week Vulnerable amid Political Concerns”
US Dollar Plummets as Janet Yellen Rejects Trump Agenda for Financial Regulations
The US dollar plummeted against all other major currencies on Friday after a speech by Federal Reserve Chairwoman Janet Yellen that raised uncertainty toward near future monetary policy. Her speech also raised concerns that the Trump administration may have a hard time bring the presidentâs promises into reality. Despite high anticipation between investors for comments on US monetary policy during the Economic Policy Symposium, Yellen … “US Dollar Plummets as Janet Yellen Rejects Trump Agenda for Financial Regulations”
Canadian Dollar Rallies Against US Dollar on Janet Yellen Speech
The Canadian dollar today rallied higher against its US counterpart after Janet Yellen‘s speech at the Jackson Hole Symposium. The US dollar had earlier rallied from daily lows after the release of the durable goods orders report for the month of July. The USD/CAD currency pair declined by over 50 points after Yellen’s speech, but had slightly recovered at the time of writing. The Canadian dollar opened today’s session much stronger … “Canadian Dollar Rallies Against US Dollar on Janet Yellen Speech”
Euro Advances Against US Dollar as German Business Conditions Remain Strong
The euro advanced against the US dollar on Friday in the wake of a fresh reading for business conditions in Germany, which revealed improved expectations over the short term. The shared currency also benefited from German gross domestic product data that was released early morning today and showed numbers that matched estimates. The ifo Institute, which conducts monthly surveys to measure German business conditions, said in a report earlier today that … “Euro Advances Against US Dollar as German Business Conditions Remain Strong”