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On Tuesday, the British pound kept the upbeat tone. The currency pair GBP/USD fluctuated within the 1.3325/20 band, reporting marginal revenues for the day.
Cable’s soar happens to have stumbled on a tough resistance in Monday’s tops approximately 1.3380, losing some ground along with some revival in the US dollar as well as renewed Brexit concerns.
Yesterday, the US currency has demonstrated some signs of life, reacting to the previous week’s abrupt pullback, simultaneously underpinned by a rebound in yields of the major American 10-year treasuries.
Back to Brexit, new worries as for the so-called Irish ‘hard border’ rekindled some jitters over the everlasting talks, capping the upside momentum.
BoE’s M.Carney told that financial institutions need to be capable of lending through disorderly Brexit.
In the UK docket there’s nothing scheduled for today. However, the speech by next Fed Governor J.Powell is expected to attract much attention later in the NA session.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
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…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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