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Download a Free Guide Want to hold off on improving your trading? Forex Trading What is forex trading? USD Risks Selling if Breaks Key 1. Why is the British Pound Weak Right Now? Brexit News Why is the British Pound Weak Right Now? Exchange Rate Drop The Pound has made heavy losses against the Canadian Dollar today, as widespread concerns about Brexit take hold.
Euro, US Dollar, British Pound, . JPY crosses from Lloyds, Danske Bank and JP Morgan. USD down with it in a generally more encouraging environment. Italian inflation disappointed once again, demonstrating how stubborn price pressure is in Europe and leaving the common currency vulnerable to any further evidence that growth is slowing. Notably, our equity strategists are looking for the US to outperform the eurozone near term as the US is off to a good start in terms of the earnings season. Cable took a breather on Tuesday ahead of critical inflation data as the pair failed to make it 8 days straight of green candles.
GBP also came off its lows in what appeared to be a little profit-taking ahead of CPI. May BoE rate hike and a politically weak US dollar. As we noted last week, it seems that we’re back to good old-fashioned UK data watching to determine the short-term direction for the currency. Sweden has been identified as one of the economies which has the most to lose in a trade war environment and so investors have turned a little cold towards Swedish assets.
NOK is now at low end of its recent trading range and indeed we still see the cross as a 9. SEK looks prone for at least a temporary correction albeit it is in our view still too early to turn strategically positive on the SEK. P Morgan: US Dollar may struggle against Yen and CHFThe USD Index had a better day again on Tuesday, as it rallied erasing a good chunk of its losses from Monday where it was noticeably weak in risk-on conditions. Positive housing data was good news for the Greenback, but several obstacles still remain and a flurry of lawsuits against the US President are not helping matters for the Dollar. The US is relatively late in its tightening cycle—rates have now climbed approximately halfway to their projected long-term equilibrium of 3 percent. Meanwhile, Europe and Japan are still very early in their tightening cycles, giving the euro and yen significant upside potential against the dollar in the medium term.
Political uncertainty and trade tensions may also contribute to the dollar’s weakness. The Trump administration has imposed tariffs on imported steel and aluminium, as well as penalties on Chinese imports. Although the current set of tariffs is relatively limited in scope, the threat of escalation may create a risk premium for the dollar. A broader trade conflict would likely push the dollar down against competing reserve currencies like the euro, yen and Swiss franc. Save money on your currency transfers with TorFX, voted International Money Transfer Provider of the Year 2016, 2017 and 2018. Their goal is to connect clients with ultra competitive exchange rates and a uniquely dedicated service whether they choose to trade online or over the telephone. Trading consultant for Private Sports Betting Fund out of Edinburgh.
USD exchange rate fails to take 1. USD Risks Selling if Breaks Key 1. Why is the British Pound Weak Right Now? The advice provided on this website is general advice only and does not constitute as a financial recommendation. Any news, opinions, research, analysis, values or other information contained on this story, by Exchange Rates UK, its employees, partners or contributors, is provided as general market commentary. Free Sign Up Already have an account? Voting is open during market hours.
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