|Day's range||0.892 - 0.896|
|52-week range||0.8636 - 0.9261|
Investing.com - The dollar hit one-year highs against a currency basket on Thursday, sending the euro below the $1.16 level after bullish comments be Federal Reserve Chairman Jerome Powell cemented expectations for two more rate hikes this year.
Investing.com - The pound dropped below the $1.30 level on Thursday as a result of an unexpected drop in consumer spending in June, further slimming the chances of a Bank of England rate hike in August.
Investing.com - The dollar rose against a currency basket on Thursday, to trade near one-year highs after hawkish comments by the chairman of the U.S. Federal Reserve underlined expectations for two additional rate hikes by the central bank this year.
The UK’s retail sales figures dropped unexpectedly in June. Sales declined by 0.5% in June compared to a growth of 1.4% in May. YoY Retail sales grew by 2.9, below analysts expectation of 3.7%. Pound hits a 10-month low near 1.30 versus the US dollar.
Investing.com - The pound fell to the lowest levels in 10 months against the broadly stronger dollar on Wednesday, as unexpectedly weak UK inflation data diminished chances for an August rate hike by the Bank of England.
The British Pound continues its fall on Wednesday morning, trading at 1.3087, down 0.18%. The pound falls on reports that Theresa May could face a defeat on the latest Brexit Vote.
Investing.com - The dollar rose to the day’s highs against a currency basket on Tuesday after Federal Reserve Chairman Jerome Powell said strong growth and stable inflation should keep the central bank on track to keep gradually raising interest rates.
The pound sterling has been trying to strengthen over the last few days but has not succeeded so far. The major fear of the pound traders lies in Brexit negotiations which are paused or disputed every now and then. Jobless claims in the UK rose by 7,800 against the expectations at 2,300 and the previous number of 7,700.
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.
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 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.
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.