|Day's range||1.241 - 1.243|
|52-week range||1.1959 - 1.3349|
With no major events to kick off the week, the Canadian dollar and Mexican peso are showing little movement. The British pound is showing some volatility and has retracted after ending last week with sharp gains.
The British pound fell a bit to kick off the week on Monday, as there was a general run toward safety after the drone attacks in Saudi Arabia. Beyond that, the British pound had been over bought so quite frankly it makes quite a bit of sense that we have pulled back.
GBP/USD is under a bit of pressure at the start of the week after an impressive two-week recovery that took the exchange rate to a seven-week high.
Attacks on Saudi oil fields drove demand for the Yen and the Loonie as oil prices surged. Johnson is in focus later today and the GBP needs progress.
Investing.com - The safe haven yen and Swiss franc look likely to strengthen when markets open this week amid heightened geopolitical tensions in the Middle East after weekend attacks on Saudi oil plants disrupted global oil supplies.
It’s a big week ahead for the markets. The FED, the BoE and Brexit are in focus, with stats and chatter on trade also needing some attention.
While UK politics continues to raise eyebrows, the British PM’s eagerness to garner a deal with the EU was key. In the week ahead, more progress is needed.
The British pound rallied a bit during the week, reaching towards the 1.25 level above. That’s an area that should attract a lot of attention and could be a major resistance barrier that will be difficult for the British pound to take out.
The British pound rallied significantly during the trading session on Friday as we started to reach towards the 1.25 GBP level. That of course is an area that will attract a certain amount of psychological attention, not to mention the fact that we have seen structural noise in that region.
Tim Martin said the prime minister shouldn't break law requiring him to write to the EU 'but he should try and leave.'
Investing.com - The pound rose on Friday on a newspaper report that the U.K. government is contemplating some type of regulatory divergence between Northern Ireland the U.K. in an attempt to secure a Brexit deal.
House of Commons speaker John Bercow said he would get creative to prevent Boris Johnson from disobeying the no-deal Brexit law.
SSE, one of the UK’s big-six energy providers, agreed to sell its lagging household supply business to smaller rival Ovo Group.
Investing.com -- Stocks are within touching distance of new all-time highs after China stoked hopes of a trade deal with the U.S. Meanwhile, sterling is at a two-month high as Brexit risks recede, and WeWork's IPO is back on the road. Here's what you need to know in financial markets on Friday, 13th September.
Tim Martin criticised 21 rebel Tory MPs who voted against the government to block a no deal Brexit.
Kirsty Rutter, who left the bank in May, said company valuations should take into account environmental and social impact.
It’s risk-on through the Asian session as the markets respond to the ECB move. On the day ahead, the focus will be on Brexit and U.S retail sales figures.
The British pound initially fell during the trading session on Thursday, breaking below the 50 day EMA before rallying again. Quite frankly, this is a market that is all over the place and it could continue to be very difficult to trade.
The pound turned positive against the greenback on Thursday on a report that the European Union is prepared to grant another Brexit extension to the U.K. to prevent the country from leaving the bloc without deal. Business Insider published news of the potential deal, citing a leaked European Parliament draft resolution. U.K. Prime Minister Boris Johnson has said several times that he is not willing to ask the EU for a further delay to Brexit, despite U.K. lawmakers passing a law to stop a no-deal Brexit.