|Day's Range||0.884 - 0.89|
|52 Week Range||0.8636 - 0.9261|
the ECB will be releasing its monetary policy meeting minutes. The minutes cover the June ECB meeting where policymakers announced a taper to the QE program and an exit from QE by December 2018.
Britain's pound pared its recovery gains in Tuesday afternoon trading after Prime Minister Theresa May’s government was rattled by additional resignations.
Investing.com - The dollar extended early gains against a currency basket on Tuesday, sending the euro lower, while mixed GDP data and political instability weighed on the pound.
Investing.com - The pound edged higher on Tuesday despite fresh uncertainty over Brexit following the resignations of David Davis and Boris Johnson, as investors awaited growth data that could keep the Bank of England on track for an August rate hike.
Cable (GBPUSD) took a hit yesterday as Boris Johnson resigned from the Cabinet following the earlier decision by David Davis to part ways with his post as Brexit Secretary. Global stocks rise on Tuesday morning ahead of US earnings season.
Britain’s pound was in focus on Monday, first rallying after the resignation of U.K. Brexit Secretary David Davis, but then dropping after Foreign Secretary Boris Johnson also resigned.
Britain’s pound was in focus on Monday, first rallying after the resignation of U.K. Brexit Secretary David Davis, but then falling after Foreign Secretary Boris Johnson also quit. While Davis’s comments on May being a good leader and his replacement with leave campaigner and former housing minister Dominic Raab was seen as supportive of the pound, Johnson’s resignation was perceived as another sign of the fragility of Prime Minister Theresa May’s government and thus negative. The move is seen raising the chances May will face a formal leadership challenge.
Investing.com - The dollar was trading at three week lows against a currency basket on Monday after the latest U.S. jobs report pointed to sluggish wage growth, while the pound shrugged off the shock resignation of UK Brexit secretary David Davis.
Investing.com - The dollar edged lower against a basket of the other major currencies on Thursday, a day before the U.S. and China were to hit each other with import tariffs, escalating a trade spat that many investors fear will hurt global growth.
The British Pound is looking rather sad on the currency market today. It’s not only because of the USD behavior, that puts pressure on other traded currencies. Another reason is that investors are trying to avoid any risks that are connected with the Pound, including the Brexit complications.
Dovish comments from incoming BoE policymaker Jonathan Haskel earlier this week hit expectations for an August rate hike as he said there may be more slack than previously thought in the UK economy.
Investing.com - The pound fell to seven-month lows Thursday as Bank of England Deputy Governor Jon Cunliffe’s warning about household debt levels and concerns over Brexit weighed.
The European Central Bank president, Mario Draghi was speaking at the banking conference event in Portugal last week. The main take away from the speech was that the ECB president promised that the ECB would take time to hike interest rates.
Traders looking to get bullish on the British pound ahead of Thursday’s Bank of England meeting might want to try taking the dollar out of the equation, analysts said. Sterling (GBPUSD) hovered around a 7-month low versus the dollar ahead of the central bank meeting, thanks in part to a nearly relentless rally by the U.S. currency that began back in April. To get around that, traders looking for a more hawkish tone from the Bank of England might look to the euro-sterling (EURGBP) pair, which is also seen as a more accurate Brexit risk barometer, analysts said.
Investing.com - The pound was trading close to seven month lows on Wednesday as Prime Minister Theresa May’s government faced another crunch vote on Brexit.
Investing.com - The diverging monetary policy outlook between the Federal Reserve and the European Central Bank is likely to boost the dollar and weigh on the euro in the coming week, by making the dollar more attractive to yield-seeking investors.
The EUR/GBP pair went back and forth during the trading sessions that make up the week, as we continue to find the 0.88 level above resistive enough to keep this market down. However, I think that the sideways action of this market keeps a lot of longer-term traders on the sidelines.
The Euro rallied against the British pound during the day on Friday, continuing the choppiness that we have seen over the last couple of days. We sold off rather drastically on Thursday, have bounced towards the 0.8750 level a couple of times, but have yet to break above there.
The European Union had a press conference and interest rate meeting during the day on Thursday, which of course was unchanged. However, they did step down the quantitative easing, dropping from buying €30 billion per month and the bond market to only buying €15 billion per month, which of course is the next step in a tightening cycle.
Investing.com - The euro dropped on Thursday after the European Central Bank signaled plans to wind up its bond purchasing program stimulus program by the end of the year but reiterated that it expects to keep interest rates on hold until the middle of 2019.
Investing.com - The pound rose to the day’s highs on Thursday after data showing that UK retail sales outstripped forecasts in May as good weather and the Royal Wedding boosted consumer spending.
The Euro rallied significantly during the trading session on Wednesday, reaching towards the 0.8825 level again. This is a significant resistance barrier that continues to keep the market somewhat under wraps, but by the end of the day we should see some clarity as the European Central Bank will have a statement today.
Investing.com - The pound slid to the day’s lows on Wednesday after data showing that UK inflation remained steady at a one-year low on May, despite pressure from higher oil prices.
The EUR/GBP pair has rallied significantly during the day on Tuesday, using the 0.88 level as a bit of a springboard. Now that we are reaching towards the 0.8850 level, if we can break above there it’s likely that we could continue to go even higher. Once we break above there, I suspect that the 0.89 level will be targeted.