The evergreen buck came off Wednesday’s peak in Europe trade, although it’s still firm enough against the backdrop of the news telling that the American economy still demonstrates decent strength…
GBP/USD keeps soaring, with focus on 1.42 mark
On Wednesday, the currency pair GBP/USD pair maintained its firm bid tone and in the last hour the pair managed to inch up to 1.4200.
Remarks from the US Treasury Secretary Steven Mnuchin, backing a weaker US dollar, kept applying downward pressure on the greenback and brought it to the lowest value for 3 years.
Versus the backdrop of optimism over a favorable divorce with the European Union, the currency pair showed a firm up-move today, underpinned by better-than-anticipated British wage surge data.
As for the bulls, they took a breather close to the mark 1.4200, with excessively overbought conditions encouraging some profit-taking following the pair's recent ascend of nearly 350-pips for the last three trading sessions.
Market participants are currently waiting for the publication of flash American PMI prints that along with the existing home sales report would ensure some trading impetus.
The United States will publish the level of quarterly advance GDP growth on April 26, at 15:30 MT time.
On Thursday, the common currency nursed losses versus the evergreen buck having slumped to a 22-month minimum on a shocking dive in a leading gauge of economic activity in Germany, boosting fears a deceleration in the EU’s number one economy…
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…