On Thursday, the major US currency rebounded from its unexpected dive following dismal economic data that sparked fears about the strength of the American economy and also backed the Fed’s intention to leave rates on hold in the nearer future…
British pound inches up backed by Brexit ‘decisive steps’
On Monday, the British pound managed to inch up, reacting to news that so-called 'decisive steps' had been carried out between the European Union and Great Britain on the Brexit transition deal.
The currency pair GBP/USD hit 1.4068, tacking on 0.90%.
The UK currency hit 4-week maximums on Monday afternoon because the both parties delivered a press conference suggesting the considerable progress.
A fresh variant of the draft withdrawal bill for Brexit was jointly released by the EU and Great Britain and uncovered at a joint press conference headed by the European Union’s chief Brexit negotiator Michel Barnier as well as Britian’s Brexit secretary David Davis.
As the pair states, in December on Phase 1 points negotiated a complete agreement had been reached on the financial settlement as well as citizens' rights. Nevertheless, there’re some issues left, having to do with the Irish border.
EU citizens coming to Great Britain during the transition period are going to obtain the same rights as those who come to this country before the March 30, next year.
Intense negotiations on the Irish border are going to burst out in the nearer weeks.
The upcoming EU Summit will be held on Thursday and also on Friday, where the leaders of the 28 European countries including British Prime Minister Theresa May, are going to meet to talk about the Brexit transition.
On Friday, Michel Barnier is expected to roll out the draft agreement to the European Council for official approval.
Following the report, the currency pair EUR/GBP headed south 0.82% showcasing an outcome of 0.8747.
The UK currency managed to make considerable gains versus safe haven currencies. The currency pair GBP/JPY tacked on 1.12% being worth 149.46, while GBP/CHF rallied 0.93% reaching 1.3399.
Market participants are going to watch British data this week, including inflation numbers on Tuesday as well as a wages report on Wednesday.
On Thursday, Bitcoin was still below the psychologically crucial $4,000 mark without any clear driver…
Having hit $4,000 for the first time for six weeks on expectations that the US Securities and Exchange Commission will soon approve investment vehicles, which would broaden Bitcoin’s appeal, the number one crypto assets rebounded on Wednesday…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…