GBP/USD rebounds from 2-month maximum notwithstanding upbeat data

GBP/USD rebounds from 2-month maximum notwithstanding upbeat data

On Friday, the British pound rebounded from a two-month maximum versus the greenback notwithstanding the publication of positive British manufacturing activity data because market participants locked in profits from the pound’s recent soar due to signs of progress in Brexit talks.

The currency pair GBP/USD sank 0.27% being worth 1.3492, which is off a two-month maximum of 1.3550 reached overnight.

The earlier report unveiled that in November the British manufacturing sector managed to expand at a faster rate than anticipated.

The report emerged amid signs of progress in talks between the European Union and Great Britian, as EU diplomats told earlier that the UK has approached EU demands over Brexit.

Market sentiment on the US currency was still fragile after on Thursday the US Senate had a vote on the tax reform bill postponed until Friday as a major element of the bill still required talks.


US Dollar index keeps edging up on American upbeat mood

On Friday, the evergreen buck kept tacking on versus other key currencies after the minutes of the Fed’s latest policy gathering along with Thursday’s upbeat data powered optimism as for the strength of the American economy…

Evergreen buck is at 1-1/2 week maximums on Fed minutes

On Thursday, the main US currency was seen at one-and-a-half week maximums versus a group of key rivals, following overnight revenues after minutes of the Fed’s January gathering underlined hopes for faster lifts in American interest rates…


EU shares mostly inch down

On Friday, EU shares mostly traded lower because markets were busy with digesting comments by ECB President Mario Drgahi…

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