Greenback slumps, pound surges

Greenback slumps, pound surges

On Wednesday, the evergreen buck slumped versus a pack of other key currencies due to the fact the UK currency soared after comments on Brexit by EU negotiator Michel Barnier.

Estimating the US currency’s purchasing power versus its six main counterparts, the USD index headed south to 94.57, which is not far from Wednesday’s one-month minimum of 94.34.

Market sentiment was backed by expectations that Canada will join the fresh trade pact between the Mexico and America aimed at modifying the North American Free Trade Agreement.

However, the new trade deal didn’t do much to show how a trade clash between China and American might develop after negotiations the previous week brought no progress and both countries imposed new reciprocal duties on imports.

The evergreen buck demonstrated minor reaction to data disclosing that American economic surge turned out to be stronger than anticipated in the second quarter, demonstrating 4.2% became financial markets were still focused on geopolitical developments.

The UK currency managed to rally. The currency pair GBP/USD surged by 0.95% hitting 1.3000 right after EU negotiator Michel Barnier told that the EU was ready to offer a partnership with the United Kingdom such as has never been with any other state.

The given remarks relieved worries regarding the prospect of a no-deal Brexit.

The common currency steeply dived versus the UK currency. The currency pair EUR/GBP dipped by 0.87% being worth 0.9006.

The evergreen buck rallied versus Japan’s currency. The currency pair USD/JPY added by 0.25% coming up with an outcome of 111.47.

The common currency was nearly intact versus the evergreen buck. The currency pair EUR/USD showed 1.1693.

At the same time, the Turkish lira went down further versus the evergreen buck on Wednesday, suppressed by everlasting uncertainty as for the diplomatic clash between America and Turkey.

 

Similar

How to trade the JPY?
How to trade the JPY?

Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:

USD and GBP Traders Await Big Moves
USD and GBP Traders Await Big Moves

The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.

What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

Latest news

US Dollar Index at a 3-month Low
US Dollar Index at a 3-month Low

The USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?

Soon Bullish Rally for Gold
Soon Bullish Rally for Gold

The winter is coming, and risky markets expect a rally to come with it. Will this December be bullish for stocks, crypto, and gold? A pack of news will surely help you out.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera