|Day's Range||1.398 - 1.407|
|52 Week Range||1.2344 - 1.4340|
Investing.com - The U.S. dollar moved higher against other major currencies on Tuesday, as investors awaited the Federal Reserve's monthly policy meeting due to begin later in the day.
Investing.com - The pound trimmed gains on Tuesday after data showing that inflation in the UK fell to its lowest level since July last month, easing a squeeze on household spending.
Investing.com - The dollar was little changed against a basket of the other major currencies on Tuesday, as investors awaited the outcome of the Federal Reserve’s meeting on Wednesday, where it was expected to announce the first rate hike of 2018.
The pair shot higher slamming the 1.2325 level during the Monday’s session, the area which has been a bit noisy and supportive in the past. Because of this, it will experience difficulty in crossing above and once it clears above then it should move higher reaching the 1.24 and 1.25 level eventually. The market has also some downside risk if the Fed sounds out to be more hawkish in respect to the rate hike in its next meet. …Read MoreGBP/USD
The British pound exploded to the upside during trading on Monday, as it was announced that the United Kingdom and the European Union have come to some type of basic outline for the United Kingdom leaving the European Union. This has been a bit of a dark cloud hanging over the British pound, so buyers jumping in at this point isn’t much of a surprise.
The Euro reversed earlier losses on Monday after investors revived bets that the ECB may raise rates sooner than previously thought.
The dollar fell against a basket of major currencies weighed by a sharp rise in sterling as the UK and EU reportedly reached an agreement on a post-Brexit transition period and the Irish Border. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.38% to 89.46. Ahead of the Federal Reserve Open Market Committee (FOMC) meeting, the dollar struggled to advance despite expectations FOMC members on Wednesday will vote to raise rates for the first time this year and could add a fourth rate hike projection to the current projections three rate hikes expected this year amid a hawkish tweak in the FOMC language in January.
The U.S. dollar was lower against a basket of other currencies on Monday as news of progress on Brexit caused sterling to surge. “Decisive steps” have been made between the United Kingdom and the European Union on the agreements of the Brexit transition deal, officials said on Monday. The draft withdrawal bill was jointly published by the UK and EU and showed that complete agreement had been reached on Phase 1 points negotiated in December in regards to financial settlement and citizens’ rights.
This week is going to be very busy for the dollar, the leading event being Fed meeting, the very first one for its new governor Jerome Powell. A key interest rate is extremely likely to be raised during the meeting, the investors and analysts say, but this is not the major question here. The markets will be expecting any comments or hints regarding future policies and steps the Fed is going to take.
Investing.com - The U.S. dollar held steady against other major currencies on Monday, as investors turned their attention to this week's Federal Reserve policy meeting.
Investing.com - The dollar edged higher against a currency basket on Monday as markets awaited an upcoming Federal Reserve meeting where it is likely to hike interest rates and offer clues on the pace of monetary tightening for the remainder of this year.
The pair broke down significantly during the Friday’s session reacting to the stronger than expected Industrial Production figures from US reported month over month. If the pair succeeds to break above the 107.50 level, then it will change the course of this market and will go towards the 110 level next.
This should obviously strongly affect the GBP so let’s look on the EURGBP, where apart from the forthcoming fundamental influence, we also do have an interesting technical situation. EURGBP is mostly influenced by the head and shoulder pattern (interestingly, like many instruments with the USD at the moment). EURGBP is in a negative territory because the price broke the support on the 0.8845 (purple) and the lower line of the symmetric triangle pattern (pink).
Investing.com - The dollar ended the week slightly higher against a currency basket on Friday as upbeat U.S. data underlined the case for the Federal Reserve to raise interest rates at its upcoming meeting this week.
The British pound rallied during the week, slamming into the downtrend line that has been a thorn in the side of the buyers. We tested the 1.40 level, but we look likely to close underneath that mentioned downtrend line. However, we have a couple of very clear signals if things work out in our way.
Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending March 13 on Friday.
Investing.com – The dollar rose against a basket of major currencies as traders cheered mostly positive economic data and easing political turmoil in Washington.
Investing.com - The U.S. dollar remained broadly lower against other major currencies on Friday, after the release of downbeat U.S. housing sector data and as U.S. political turmoil continued to weigh.
Investing.com - The U.S. dollar continued to fall against other major currencies on Friday, pulling further away from a one-week high as news of additional personnel changes at the White House sparked fresh concerns over U.S. political turmoil.