|Day's range||1.215 - 1.215|
|52-week range||1.2019 - 1.3349|
In the USD Index, the bulls continued to take over the bears even today. Interim, rising odds for a no-deal Brexit was making the Cable traders upset.
The British pound bounced during the week against the US dollar and what would have been a bit of a reprieve after a nasty selloff. That being said, there is a large, round, psychologically significant figure that has come into play as well.
The British pound rallied significantly during the trading session on Friday, reaching into the previous consolidation area as we head towards the weekend.
GBP/USD carved out a bottom in the early week and has been consolidating higher even though the dollar has had a firm bid for most of the week.
Google searches for terms like “high interest savings” and “high interest savings accounts uk” return adverts for mini-bonds, a form of high-risk debt product.
After marking the day’s opening near 105.89 level, the Ninja showcased a pretty decent performance on Thursday. Greenback continued to sustain positive price actions even today.
The key UK yield curve (2/10) has inverted, adding to the woes for the UK. With Sterling still mired in multi-year lows and probability of a No-Deal exit from the EU increasing, where does this leave the outlook for Sterling, the BoE and the wider UK economy?
The British pound rallied against its counterparts in early trading on Thursday after UK retail sales came in ahead of expectations.
Based on the early price action, the direction of the index the rest of the session is likely to be determined by trader reaction to the short-term 50% level at 97.840.
Retail sales in the UK unexpectedly climbed by 0.2% in July, even as retail industry bodies had warned of a dire month for the sector.
British farms could suffer 'the most serious economic shock' of any industry, according to a top farming expert.
Despite positive AUD-specific data, the Aussie pair was heading south to end the day on a negative note. Fiber kept slipping throughout the day shrugging towards upbeat Eurozone and German Q2 YoY GDP data.
The British pound initially tried to rally during the trading session on Wednesday but gave back the gains again as we continue to see a lot of trouble near the 1.21 handle. That was the bottom of a major consolidation area above, so this makes quite a bit of sense.
After three adverse closings in a row, the Greenback was underway a positive closing today. After touching the 7.0707 mark yesterday, the USD/CNY pair was heading downside on Tuesday.
It is highly unlikely that the US-UK trade deal post-Brexit will be executed in the time and way that US representatives are touting out.
Investing.com - The U.S. dollar surged on Tuesday after the U.S. Trade Representative delayed tariffs on a number of items, including toys and computer consoles.