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GBPUSD

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European Session – Dollar bounces back on higher treasury yields, pushing euro and pound lower

Posted on January 26, 2017 at 4:28 pm GMT

The positive sentiment from the Dow Jones’ record break above the 20,000 level carried forward to Thursday’s European session, though risk appetite ebbed slightly in afternoon trading. European equities were mixed in late session, while 10-year US treasury yields rallied to a 4-week high. The higher yields spurred the US dollar to finally break out of the past day’s tight trading range, helping it climb above 114 yen. Investor concerns about Donald Trump’s policies on trade and immigration have been [..]

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Asian session – Dollar index stays below 100 while pound rallies to 6-week highs

Posted on January 26, 2017 at 8:41 am GMT

The US dollar remained under pressure because of various protectionist initiatives by the new US administration, while the pound rallied to 6-week highs on optimism of a quick trade deal between the UK and the US, as well as progress on triggering Article 50. Despite a rising US stock market as well as higher US Treasury yields, the dollar was unable to make headway as foreign investors were wary of Trump’s protectionist policies, according to analysts.  The new president authorized [..]

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European session – Sterling up after May agrees Brexit white paper; Dollar hits 7-week low

Posted on January 25, 2017 at 3:55 pm GMT

UK Prime Minister Theresa May said on Wednesday that she plans on producing a policy document (a so called ‘white paper’) for parliament outlining her proposals on how the Brexit process should take place. The news helped push sterling higher as it hit a near 6-week high against the dollar and a near 3-week high against the euro. In afternoon European session GBP / USD was last at 1.2563 (up 0.34%) and EUR / GBP at 0.8535 (down four-tenths of a [..]

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Asian session – Aussie drops following inflation; US dollar in uneasy calm

Posted on January 25, 2017 at 8:34 am GMT

The US dollar declined a little but then rebounded back to almost unchanged during today’s Asian session, as traders were still trying to weigh the impact of the new administration’s trade and economic policies. The dollar index traded in a relatively narrow range of 100.15 to 100.41, while there were few new developments out of the United States.  Existing home sales for December dropped 2.8% instead of a drop of only 1.1% expected by economists, but the miss was mostly [..]

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European Session – Pound fluctuates on Supreme Court ruling; Loonie jumps on pipeline deal

Posted on January 24, 2017 at 4:41 pm GMT

The pound see-sawed in today’s European session as the British currency saw volatility both before and after the Supreme Court’s ruling on the triggering of Article 50. The US dollar recovered from earlier lows, while the Canadian dollar surged after Donald Trump approved the construction of a major pipeline from Canada to the United States. The greenback struggled for upwards momentum on Tuesday as it attempted to move away from multi-week lows. The dollar index pared most of its losses [..]

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Forex News – UK Supreme Court decision ruling brings relief to both government and opponents

Posted on January 24, 2017 at 1:21 pm GMT

The Supreme Court in the UK ruled on Tuesday that the British government is not authorised to bypass parliament in invoking Article 50 – the formal notice given to the EU for triggering the exit process from the bloc. The decision follows an appeal by the government to overturn the High Court’s initial ruling back in November when the court had ruled in favour of the businesswoman, Gina Miller, who had brought the legal case to the courts. The judges [..]

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Technical Analysis – GBPUSD near-term bullish with the strength of the signal under question

Posted on January 24, 2017 at 9:26 am GMT

GBPUSD has recorded a near-term 6-week high before falling below yesterday’s close in today’s trading so far. Technical indicators indicate a continuation of the short-term uptrend momentum. The MACD histogram has recently turned positive and the RSI is in bullish territory at 57, although not far away from the neutral 50 level, perhaps indicating that the short-term bullish signal is not that strong. On the downside, the 50-day moving average (MA) at 1.24 is expected to act as support. Should [..]

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