|Day's Range||1.272 - 1.275|
|52 Week Range||1.2481 - 1.3473|
The Grand Coalition lose ground, but the Populists fail to make a mark. For the UK, the results were as expected and leave Britain divided.
Investing.com - The Chinese yuan inched up on Monday in Asia as China warned that yuan shorters could “suffer from a huge loss.”
It’s another big week ahead. EU Elections will get the markets going early on Monday. Trade war chatter and UK politics and stats will also be in focus.
The British pound rises against rivals late Friday after U.K. Prime Minister Theresa May announced her resignation, after her deals to usher Britain out of the European Union failed and she lost the confidence of her political inner circle.
Greenback dropped to weekly low levels as April Goods Orders reports came out below estimates. Loonie extended yesterday’s plunge rally. XAU/USD pair is trading 0.55% weekly up.
The British pound has been beaten up for some time, which makes quite a bit of sense considering that the Brexit continues to be a mess. With that being the case, it’s difficult to buy this market for the longer-term, but in general we are getting closer to the bottom than the top.
The British pound initially tried to rally during the trading session on Friday but gave back quite a bit of the gains. Perhaps this move was in reaction to the fact that Theresa May has finally said when she is leaving. At this point in time though, the 1.27 level is offered enough resistance to turn this market right back around.
Our call of the day, from analysts at Piper Jaffray takes a holiday from the trade headlines to make a prediction about Amazon shares. They say get ready for a 65% move higher.
London’s markets ticked up on Friday, as investor concerns were dulled by U.S. President Donald Trump’s indication the ban on Huawei Technologies Co. could be eased
The British pound jumped, then pulled back on the news U.K. Prime Minister Theresa May will step down, after she failed three times to get a Brexit deal passed through Parliament. Making the announcement from Downing Street, May said her last day as prime minister and Conservative party leader will be June 7. The pound initially jumped on the move that had been widely reported, rising to a session high of $1.2725, before falling back to $1.2674, but still up 0.2% on the day. "The fact is that sterling volatility is going to rise from here and Boris Johnson is going to go for the hard Brexit which is going to be a huge disaster for the country," said Naeem Aslam, chief market analyst at TF Global Markets, in reference to former foreign secretary and Brexit hardliner Johnson.
Brexit tensions continued to prevail over the pair. MPs pressurizing May to leave the office at the earliest. However, on the technical side, the near-term trend indicates bullish prospects.
Theresa May is expected to hold a news conference this morning, outlining her departure date from number 10. Will it be the return of Boris Johnson?
Investing.com -- The U.S. dollar was trading broadly lower early Friday in Europe, amid rising expectations that the Federal Reserve will have to cut interest rates to support the U.S. economy to offset the damage from a widening trade war with China.
Brexit and EU Elections along with UK retail sales figures to influence the GBP, with durable goods orders out of the U.S also in focus.
Investing.com - The Chinese yuan edged down against the U.S. dollar on Friday in Asia, while the pound traded flat despite reports that U.K. Prime Minister Theresa May might resign within the next day or two.
The Euro pair seesawed throughout the day. Greenback rivals benefitted out of its fall. Crude Oil plummeted around 6% today, allowing the Loonie to continue the upward movement.
The British pound fell during the trading session on Thursday as per usual but has bounced slightly as we approached the 1.26 level. It’s difficult to imagine that this market is ready to turn around though, especially with the clown show going on in Great Britain.
Weak Chinese economic data for April dragged European markets down on Wednesday, hitting some of the gains made during Tuesday’s rebound.
London markets were on the back foot on Thursday, as UK voters head to the European elections polls and tension between the U.S. and China mounts
The British pound adds to its losses against major rivals on Thursday, with some bears raising the remote possibility that U.K. Prime Minister Theresa May’s Brexit struggles could drag Britain’s currency to parity with the buck.
Data on Thursday showed that the labor market is gaining strength, even as the economy slows. Initial claims for unemployment benefits fell for the third-straight week to a seasonally adjusted 211,000, the Labor Department said.
Yahoo Finance's Adam Shapiro, Julie Hyman, Brian Cheung, and Heidi Chung join Yahoo News Reporter Stuart Henderson and Societe Macro Strategist Kit Juckes.