|Day's range||0.762 - 0.762|
|52-week range||0.7491 - 0.8362|
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.
The British pound pulled back a bit during the trading session on Friday, but then turned around to show signs of strength again. This continues the overall “risk on” trade situation.
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 Canadian dollar is flat on Friday, but that could change in the North American session. Canada and the U.S. will both release key employment numbers at 15.:30 GMT.
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.
Labour has previously vowed to cap overdraft fees, but an expert has warned that could see banks stop offering overdrafts altogether.
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.
Yahoo Finance UK reports from South Swindon, where Conservatives will hope their narrow majority survives a local factory closure and a tight race with Labour.
Despite a lead for the Tories in the polls, investors and analysts are still worrying about the possibility of a hung parliament after the December election.
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 Canadian dollar is steady on Thursday, after an optimistic Bank of Canada rate statement boosted the currency. Higher oil prices have also contributed to the Canadian dollar gaining ground.
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 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.
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.
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.
After passing the $1.30 milestone on Wednesday, sterling on Thursday climbed nearly 0.3% against the dollar to above $1.31.
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.