|Day's Range||1.313 - 1.313|
|52 Week Range||1.1959 - 1.3349|
It may seem as if the U.K. has been mired in political turmoil forever, but the deadlock over Brexit and the country’s future may just be broken next week when the public goes to polls.
The British pound broke out during the week, breaking above the crucial 1.30 level kicking off a bullish flag. This of course has been helped by a little bit more certainty with the UK elections.
The British pound has pulled back just a bit on Friday, as the jobs number in the United States was better than anticipated. That being said though, it doesn’t really matter as this pair tends to be focusing on Brexit more than anything else right now.
Investing.com – The U.S. dollar rallied on Friday as stronger-than-expected U.S. jobs gains last month reaffirmed beliefs that the economy remained on solid footing.
The British pound has come off its highs against the dollar ahead of today’s jobs report but ultimately the jobs data and speculation ahead of the UK election will drive the pair.
The British pound has taken a breather on Friday, but is up almost 2 percent on the week. The pound has gained ground as the Conservatives continue to hold a lead in election polls. The Aussie and NZ dollar have also posted sharp gains against the U.S dollar this week.
Nonfarm payrolls from the U.S will influence later in the day. The UK election opinion polls and trade news also need a watchful eye.
The British pound rallied again during the trading session on Thursday, breaking above the 1.31 level yet again. At this point, there is a lot of bullish pressure underneath and it should be obvious that we are broken out.
The British pound has been on a roll of late, climbing against both the dollar and the euro on expectations the Conservatives will secure a majority in the Dec. 12 general election.
The year is ending but Brexit and trade wars continue being the hottest topics. In this article, we will consider events that will determine the market sentiment of the last month of the year.
European stocks mostly rose on Thursday, with the exception of U.K. equities, as multinationals suffered from the continued run-up in the British pound.
Sterling could reach $1.35 if the Conservatives win the Dec. 12 general election and a Brexit pact is ratified by Parliament, according to a strategy note from UBS.
GBP/USD marched higher in the early day, trading at levels not seen since early May. The pair is coming into a bit of resistance although the upward momentum remains strong.
The pound continues to gain ground, as the markets are pleased that Prime Minister Johnson remains ahead in the polls, with just one week to Election Day. In the Pacific region, the Aussie, NZ Dollar and Chinese yuan are trading quietly.
On Wednesday, the pressure in the financial markets has slightly decreased after Bloomberg reports that China and the U.S. are edged closer to their positions on trade and can avoid a new wave of escalation.
Investing.com – Asian currencies made something of a comeback on Thursday morning in Asia as optimism about a possible trade deal between China and the US returned. The USD was lost a little ground and the Australian dollar stopped a multi-day slide even as the Yuan continued to slide.
The British pound finally broke out during the trading session on Wednesday, clearing the 1.30 level, a key area that I had been paying attention to for some time. By doing so, the market now finds itself testing the 1.31 handle.
Sterling climbs on Wednesday, a move that hampered the FTSE 100’s ability to capitalize on renewed U.S.-China trade optimism.
Investing.com - The U.S. dollar dipped slightly from earlier highs, as investors digested recent trade developments and private payrolls growth tumbled.
GBP/USD is seeing follow-through in yesterday’s bullish technical break and trades at levels not seen since May last year.
Gold staged an incredibly rebound on Tuesday, jumping over 1% against the Dollar after U.S President Donald Trump said that a trade deal with China could be delayed until the 2020 elections.