Online Forex broker
On Thursday, the British pound declined to one-and-a-half month minimums versus a strengthening greenback because hopes for faster lifts in American interest rates in 2018 kept backing the US currency.
The currency pair GBP/USD reached a minimum of 1.3732, which is the weakest result since January 15.
The evergreen buck was backed after on Tuesday fresh Fed Chair Jerome Powell ascertained that the economic outlook in the United States was still upbeat, thus driving bets on further Fed rate lifts in 2018.
The remarks powered hopes that the Federal Reserve might deliver up to four rate lifts in 2018, rather than the three it had previously projected.
Hopes for rallying borrowing costs usually underpin the evergreen buck because higher rates make the American dollar more tempting to yield-seeking traders.
Market participants were waiting for Powell’s second day of congressional testimony later in the day in order to find out whether Fed Chair would reaffirm his aggressive view of the American economy or not.
The British pound was pressured after Tuesday’s data disclosed that in February British factory activity surge reached its lowest value for eight months in the face of uncertainty over Brexit.
Research company Markit told that the previous month its manufacturing purchasing managers’ index went down from 55.3 to 55.2.
The British pound was also suppressed by renewed concerns over Brexit after Theresa May, UK Prime Minister told that the EU's draft legal text uncovered on Wednesday would have Britain undermined and it would also endanger its constitutional integrity.
Versus the common currency the British pound slumped, with EUR/GBP adding 0.15% being worth 0.8875.
Thursday’s data showed that in the euro zone manufacturing activity stepped down a bit the previous month, although stood firm.
The EU’s manufacturing PMI headed south to 58.6 last month versus January’s reading of 59.6.
On Friday, the evergreen buck slumped after Donald Trump had the Federal Reserve heavily criticized for lifting interest rates, although it was still on target for a second winning week…
American multinational companies get down to reevaluating their currency hedging strategies following a leap in the evergreen buck for recent months because the impact of the stronger US currency starts influencing second-quarter corporate profits…
On Wednesday, the British pound headed south to the lowest value for 10 months versus the broadly stronger greenback because suddenly dismal British inflation data decreased chances for an August rate lift by Britain’s key financial institution…
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
