|Day's Range||1.301 - 1.31|
|52 Week Range||1.2663 - 1.4377|
Foreign exchange markets reflect an improvement in risk sentiment after sluggish data on Chinese economic growth was offset by words of support Chinese authorities on Friday. Meanwhile, a European Union official sought to ease tensions with Italy over the country’s budget plans.
The U.K.’s main equity index finish higher for the day and week on Friday, pushing aside weakness across global markets and tensions surrounding the Italian budget.
Investing.com - The U.S. dollar was lower on Friday as bond yields continued to hold near a one-week high, while the euro was higher.The U.S. dollar index, which tracks the greenback against a basket of other currencies, fell 0.13% to 95.60 as of 10:57 AM ET (14:57 GMT).Treasury yields were higher, with the United States 10-Year note at 3.192%, not far from a one-week high of 3.211% on Thursday. Bond yields rose after hawkish Fed minutes on Wednesday showed the central bank's conviction in gradually increasing interest rates in December and beyond. ...
The British pound continues to hover around the 1.31 handle against the US dollar, as we are simply sitting around in general. The market hasn’t shown much proclivity in taking off so far during the day, and I think we are simply it a bit of a holding pattern.
China sees its slowest growth since 2009 to rile the markets in the wake of a Thursday sell-off that came off the back of positive stats out of the U.S.
Investing.com - The dollar rose against its rivals Thursday as a slew of positive U.S. economic data reaffirmed investor expectations that the Federal Reserve will continue with its glacial pace of rate hikes, despite criticism from President Donald Trump.
Investing.com - The U.S. dollar was higher on Thursday as bond yields rose and minutes from the Federal Reserve’s September meeting supported a rate increase in December.The U.S. dollar index, which tracks the greenback against a basket of other currencies, rose 0.13% to 95.47 as of 10:57 AM ET (14:57 GMT).Treasury yields were higher on Thursday, with the United States 10-Year note near a one-week high of 3.211% and the 2-year note at a 10-year high. ...
The U.K.’s main equity index on Thursday trades slightly higher, benefiting partly from lackluster trade in the British pound.
Investing.com - The dollar eased from one-and-a-half week highs against a currency basket on Thursday, but remained supported as the minutes from the Federal Reserve’s September meeting indicated that it plans to push ahead with rate hikes in the coming months.
The British pound on Thursday stabilizes amid reports that U.K. Prime Minister Theresa May is considering a longer transition period within the EU as Britain attempts to break an impasse in talks to forge a new relationship with Europe’s trade bloc.
U.K. Prime Minister Theresa May is considering a longer transition period as Britain attempts to break an impasse in talks to forge a new relationship with Europe's trade bloc. At a summit in Brussels on Wednesday, May told a 27-member panel of representatives of European Union nations that she was "ready to consider" extending a 21-month transition period following the U.K.'s exit from the EU at the end of March, according to reports in The Guardian on Thursday. The move is viewed as a conciliatory tactic by May as she attempts to navigate tense talks with EU officials following a closely watched dinner meeting in Brussels, which was referred to by European Council President Donald Tusk earlier in the week as May's "moment of truth." Fears that the U.K. was on the brink of severing its customs and trade partnership with the EU without a clear trade deal in place, have threatened to stoke volatility in domestic markets, if not ripple globally. A decision to delay the Brexit transition could see Britons abiding under EU rules until 2021 or longer. The Brextra time, as some critics have referred to it, has stoked anger among hardline constituents who had advocated for a May to follow through with Brexit and were against maintaining EU ties for longer. For months, the EU and U.K. have been at loggerheads over specifically over the issue of trade between the Republic of Ireland and the U.K.'s Northern Ireland. The British pound was at $1.3110, little changed against the U.S. dollar, compared with $1.3114 late Wednesday in New York.
Hawkish Fed minutes and Brexit uncertainty indicate the path of least resistance for GBP is on the downside.
The British pound fell on Wednesday, extending down to the 1.31 level, an area that should be supportive based upon the gap at the open of the weekend of course previous action.
It’s all eyes on the Pound, with Brexit news and UK retail sales figures to provide direction through the day. Any progress on Brexit to be the key driver.
Investing.com - The dollar rose against its rivals Wednesday, shrugging off soft housing market data ahead of the release of the Federal Reserve's September minutes.
The U.S. dollar holds on to gains as minutes of the Federal Reserve’s last meeting underline expectations that interest rates have further to rise.
Investing.com - The U.S. dollar rose on Wednesday as traders waited for the latest meeting minutes from the Federal Reserve, while sterling was pushed lower over Brexit worries.The U.S. dollar index, which tracks the greenback against a basket of other currencies, rose 0.34% to 95.10 as of 11:07 AM ET (15:07 GMT).The meeting minutes from the Fed are released at 2:00 PM ET (18:00 GMT). The central bank took a more hawkish tone at its September meeting when it raised interest rates and dropped the word “accommodative” from its policy stance. ...
Investing.com -The annual rate of inflation in the UK rose at at the slowest pace in three months in September according to data released on Wednesday, as consumer prices were pulled down by cheaper food prices.
Investing.com - The dollar edged higher against a currency basket on Wednesday, as market sentiment was boosted by strong earnings reports, dampening demand for safe haven assets.
Inflation numbers came in softer than expected, which should ease pressure on the BoE further as the British Government attempts to garner a Brexit deal
The market could witness significant buying interest around the 1.31 and 1.30 level, all which are strong support points. The 0.71 and 0.70 levels underneath are the strong support points and the market is likely to hold on the levels. The pair retraced from the 61.8% of the Fibonacci level at 111.50 level, an area which has been important in the past.
Market worries about a “no-deal” Brexit are on the rise again after negotiations between London and Brussels hit a hurdle last weekend. What’s it mean for British pound?
The pair’s direction moving forward is highly likely to be influenced by UK macro data outcome.
While we can expect some focus on the FOMC minutes, it’s all about the GBP and the EUR today, the EU Summit putting Brexit and Italy in focus.