|Day's range||110.29 - 110.76|
|52-week range||104.6670 - 114.7250|
Traders looking to get bullish on the British pound ahead of Thursday’s Bank of England meeting might want to try taking the dollar out of the equation, analysts said. Sterling (GBPUSD) hovered around a 7-month low versus the dollar ahead of the central bank meeting, thanks in part to a nearly relentless rally by the U.S. currency that began back in April. To get around that, traders looking for a more hawkish tone from the Bank of England might look to the euro-sterling (EURGBP) pair, which is also seen as a more accurate Brexit risk barometer, analysts said.
Investing.com- The dollar took some steps back towards normalcy during morning trade in Asia Thursday, recovering its poise from the risk-aversion caused by elevated trade tensions between the U.S. and China earlier this week.
The Dollar/Yen is trading higher early Thursday with strong buying driving the Forex pair through the highs from Wednesday and Tuesday. The upside momentum being generated by this move has put the market in a position to challenge a key technical area at 110.859 and the main top at 110.905. The price action is being driven by increased demand for higher risk assets and the shedding of the safe-haven Japanese Yen.
The world is in a very interesting place right now, through personal observation I have noted that it seems the Asians are much more concerned about the trade war situation than the Americans. This has led to a very interesting trade in the USD/JPY, as it seems the Asians are flooding to the Japanese yen, and the Americans will attempt to turn the trade back around.
The British pound has continued to consolidate against the Japanese yen during the trading session on Wednesday, as we hover around the ¥145 level. This is an area that obviously has a certain amount of psychological importance to it, as it is a large, round, whole number. Ultimately, I think that we are trying to calm down from trade war fears, and that could show up quite drastically in this pair.
The dollar saw muted action Wednesday, as major currency trading calmed somewhat, a day after fears of a trade war between China and the U.S. sparked fresh haven buying. The U.S. ICE Dollar Index (IFUS:DX-Y.NYB), which measures the greenback against a basket of six rivals, was little changed in negative territory at 95.095, after touching an 11-month peak on Tuesday, underlining a period of relative placidity after markets were thrown into a tizzy after the U.S. threatened to place tariffs on an additional $400 billion worth of Chinese imports and Beijing warned it would retaliate. A broader gauge of dollar strength, the WSJ Dollar Index (CALCULATED:BUXX), was 0.1% stronger at 88.31.
Investing.com – The U.S. dollar was roughly unchanged against its rivals Wednesday as softer U.S. economic data and a rebound in sterling kept a lid on upside momentum.
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.
With the 109.55-50 support-region activating USDJPY’s U-turn, the pair seems eager enough to confront the support-turned-resistance line of 110.35 for one more time. If comparative USD strength clears the 110.35 barrier, the 110.80-85 horizontal-region and the 111.40 resistances should be watched closely as break of which could open the door for the pair’s rally towards 111.80 and 61.8% FE level of 112.30. On the contrary, pair’s failure to surpass the 110.35 TL can portray Breakout-Pullback-Continuation (BPC) formation, which in-turn highlight the 109.80 and the 109. ...
Investing.com - The dollar edged higher against a currency basket on Wednesday in subdued trade amid a lull in an escalating trade dispute between the U.S. and China.
The threat of a trade conflict is expected to continue to be the theme of the day on Wednesday. Look for the USD/JPY to weaken if escalating tensions over a trade war trigger risk aversion and another steep break in global equity markets. A recovery in U.S. equity markets and a firming of U.S. Treasury yields could help boost the Dollar/Yen.
The US dollar has been very noisy against the Japanese yen during the trading session on Tuesday, as more tariffs have been applied by the Americans against the Chinese. It’s likely that the Chinese will respond, so this of course has the market and more of a “risk off” attitude.
The British pound fell significantly against the Japanese yen on Tuesday, as we have broken cleanly below the ¥145 level. That is a very negative turn of events, signifying that perhaps we are ready to go much lower. Ultimately, this will have been in reaction to the increased tariffs between the Chinese and the Americans.
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures closed lower on Tuesday as investors continued to express concerns over a possible increase in OPEC crude supply. Also pressuring prices were the escalating trade dispute between the United States and China.
Investing.com – The U.S. dollar rose to its highest level in nearly a year against its rivals, as U.S.-China trade-war concerns intensified after U.S. President Donald Trump threatened China with fresh tariffs.
Japan’s yen and the U.S. dollar strengthened against their major rivals on Tuesday, as the escalating trade conflict between the world’s two biggest economies sent investors scrambling for safer assets. Trade tensions between the U.S. and China were already heightened, when President Donald Trump threatened to slap new import levies on up to $400 billion of Chinese goods late Monday, on top of the $50 billion his administration has already detailed. China responded on Tuesday, saying Beijing will have no choice but to take comprehensive measures in response to the U.S.’s trade moves.
China-related markets were taking some heat on Tuesday as a fresh chapter in the trade war with the U.S. threatened to blow up. Here are five charts showing how dramatic a day it has been for global markets.
Investing.com - The dollar rose to the day’s highs against a currency basket on Tuesday and pared back some losses against the safe haven yen as heightened trade tensions between the U.S. and China soured risk appetite.
Has a tit-for-tat tariff spat between China and the U.S. shifted from a skirmish to a full-blown trade war?
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Investing.com - The dollar fell to one-week lows against the safe haven yen on Tuesday as escalating trade tensions between the U.S. and China weighed on market sentiment.
The pair staged lower at the open in the Monday’s session due to some political concerns emerging out of Europe with news about Angela Markel being ousted. The 1.17 level above is massively resistive and as well as 1.18 level which the market needs to clear above in order to reverse the bearish sentiment. The 1.30 level underneath is going to be a massive support level.
Investing.com - The yen strengthened against the dollar in morning trade in Asia Tuesday after U.S. president Donald Trump raised the possibility of imposing new tariffs on US$200 billion worth of Chinese goods. Investors are entering risk-off-mode as worries mount over a U.S.-China trade war and the risk-off mode is benefiting the safe-haven yen.
EURUSD continues falling and updating its short-term lows. The point is that investors are once again in search of “safe haven” assets because global “trade wars” are reviving.
The US dollar has initially fallen against the Japanese yen as we came back to work on Monday, which isn’t much of a surprise considering that a lot of traders out there would have been looking for safety. Geopolitical events, trade tariffs going back and forth between the United States and China, uncertainty with Angela Markel, and of bevy of other issues continue to make currency traders a bit nervous.