|Day's Range||1.263 - 1.272|
|52 Week Range||1.2481 - 1.3473|
Sterling slumped on Wednesday after reports that U.K. Prime Minister Theresa May could resign as soon as today amid Brexit chaos caused a sell-off of the pound. The U.S. is looking at similar restrictions on other companies, including Chinese video surveillance company Hikvision, according to Bloomberg and the New York Times.
The GBP/USD pair got hammered to its 4-months low level in the Asian trading session amid Brexit tensions. Investors look north for the UK CPI figures, hoping the pair to recover.
Theresa May back in the spotlight as the Tory Party fails to avert a political party catastrophy in tomorrow’s EU parliamentary elections.
UK Inflation and European politics to whipsaw the Pound ahead of the FED monetary policy meeting minutes later today.
Investing.com - The U.S. dollar was hovering near one-month highs against a currency basket on Wednesday, supported by higher U.S. Treasury yields after the U.S. temporarily eased restrictions on Chinese telecommunications giant Huawei.
Investing.com - The U.S. dollar was steady near three-and-a-half week highs on Wednesday in Asia, while the British pound edged up after U.K. Prime Minister Theresa May presented a “new” Brexit deal.
Crude Oil WTI Futures continued to climb the ladder amid OPEC-led supply cut fears. PM May stated that she will give MPs last chance to back her “new improvised deal”. EUR/USD pair uplifted on USD plunge.
The British pound initially spiked below the 1.27 level but as word got out that Theresa May has the backing of her cabinet on her “new Brexit deal”, the British pound got a bit of a boost. The question now is whether or not it can retain that report.
Brexit tensions and positive Greenback playing tug-of-war with Cable, bringing it down significantly. UK PM Theresa May to discuss her “New Modified Deal” today.
Based on the early price action and the current price at 97.900, the direction of the June U.S. Dollar Index the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at 97.950.
The RBA talks of rate cuts to pin back the Aussie Dollar as trade war jitters linger. Another quiet day on the stats leaves geopolitical risk in focus.
The Safe-haven pair dropped from last week’s high amid positive Japanese data and plunging USD Index. Iran Foreign Minister commented on Trump’s tweets against Iran as “genocidal taunts”.
The British pound stabilized a bit during the trading session on Monday, showing signs of indecision. We are hanging just above the 1.27 level, an area that I have pointed out in the past that is relatively important.
The return of domestic political turmoil in the United Kingdom has led to a flurry of selling momentum for the British Pound, which fell over 300 pips during the previous trading week.
June U.S. Dollar Index traders should keep an eye on the Euro since it is heavily weighted in the index. The Dollar Index could weaken if the EUR/USD takes out 1.1164 and strengthen if the EUR/USD breaks through 1.1152.
EU Parliamentary Elections kick off on Thursday, with Britain and the Netherlands going to the polls first. Will the far-right finally find their voice?
It’s a mixed start to the day, support for the Aussie Dollar kicked in, while the EUR and the Pound could be under pressure. EU elections loom…
Investing.com -- The dollar is pushing toward the two-year high it hit in April in early trading in Europe on Monday, after election victories for business-friendly incumbents in Australia and India offset ongoing worries over trade relations between the U.S. and China.
Investing.com - The Chinese yuan rose against the U.S. dollar on Monday in Asia. In a report published late Friday, the People’s Bank of China (PBOC) said they would continue with stimulus while keeping the currency steady.