GBP/USD finds a support
During the conference in Hague, German Chancellor Angela Merkel said that the EU would find a backstop solution by October 31 (Brexit deadline).
Evergreen buck is nearly 10-week peak
On Tuesday, the American dollar rallied to a 10-week peak versus a currency basket because escalating trade clashes drove fears of a deceleration in global economic surge, powering safe haven demand.
Tracking the evergreen buck’s purchasing potential against a number of its main opponents the USD index gained 0.13% being worth 96.47.
Demand for the US currency was still backed after Bloomberg told that the current US presidential administration is ready to slap duties on all China’s products by early December if negotiations next month don’t manage to soothe the trade clash between America and China.
Chinese President Xi Jinping and American leader Donald Trump are expected to meet during the G20 Summit in Argentina late next month.
The escalation in the trade conflict shows up against the backdrop of fears over a dismal earnings outlook for tech companies as well as the tempo of American interest rate hikes.
Japan’s currency, normally considered to be a safe haven in hard times, dived versus the green back. The currency pair USD/JPY rallied by 0.4% being worth 112.82 ahead of the Bank of Japan’s monetary policy verdict on Wednesday.
The common currency nearly stood still against the evergreen buck. Eventually, the currency pair EUR/USD showed 1.1366, which is not far from Friday’s 10-week minimum of 1.1335.
The euro has been suppressed by soaring political risk in the euro zone.
On Monday, Angela Merkel, German Chancellor told that she’s geared up to stepping down as party leader and also as the country’s chancellor because of the weekend’s dismal regional election outcomes.
An everlasting clash between Italy and Brussels over Rome’s budget has also put pressure on the common currency.
Furthermore, the UK pound was a bit lower. The currency pair GBP/USD lost about 0.11% trading at 1.2778.
Similar
Bitcoin falls below the $10,000 level
The digital asset could not stick above the 50-day SMA for a long time.
Is there a chance for the NZD?
New Zealand is going to release the level of quarterly retail sales on August 23, at 1:45 MT time.
Latest news
Bitcoin dives 14%, slumping below $5,000
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Market updates on June 18
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.
Deposit with your local payment systems
