On Friday, the evergreen buck declined versus its counterparts due to the fact that Fed Vice Chairman Richard Clarida expressed concerns as for global surge and came up with quite dovish remarks on monetary policy…
UK pound edges up on hopes for Brexit deal
On Tuesday, the Japanese yen went down on news that a Japanese chip manufacturer was purchasing an American rival for about $6.7 billion. Meanwhile, the UK pound held onto overnight profits right after the EU’s key negotiator backed expectations that a Brexit deal can be reached in the nearer weeks.
Eventually, most other key currencies were in tight ranges because market participants waited for further developments in international trade clashes, in particular on any American move to impose fresh levies on China in the face of heightened tension between the two leading economies.
On Tuesday, the UK currency jumped by 0.1% hitting $1.3041.
Market experts stress that if the talks for Brexit conclude on a positive note, it will definitely underpin the British pound.
The common currency was nearly intact, sticking with $1.1601. It rallied nearly 0.4% during the previous trading session, backed by an easing in worries over Italian debt.
Versus the UK currency, the euro hit 88.94 pence, having dived to a fresh one-month minimum of 88.91.
Policymakers at the BoE as well as ECB are generally anticipated to leave their policy settings intact at their respective gatherings on Thursday.
Tracking the greenback’s purchasing potential versus its primary counterparts the USD index stood still at 95.140, having lost 0.2% overnight.
News that Japan’s chip manufacturer Renesas was purchasing its American rival Integrated Device Technology for up to $6.7 billion put pressure on the Japanese yen.
The evergreen buck jumped by 0.3% hitting 111.41 yen due to the fact that market participants also cut some of their safe-haven holdings of the Japanese yen because the benchmark Nikkei 225 stock index tacked on by over 1% and also on expectations for a Brexit deal.
Additionally, the Australian dollar soared by 0.15% reaching $0.7123.
On Friday, the UK currency managed to inch up notwithstanding worries over Brexit as well as the resignation of major statesmen in Prime Minister Theresa May’s cabinet…
On Thursday, the evergreen buck surged versus its counterparts because mostly bullish economic data managed to reaffirm investor hopes that the American economy is still on firm footing, while a dive in the UK currency also backed sentiment…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…