Day: July 18, 2017

July 18
2017

EUR/USD Jumps to New Highs

EUR/USD rallied today, touching the level not seen since May 2016, as another effort to repeal the Affordable Care Act failed, leading to increasing concerns that US President Donald Trump will find heavy resistance to his reforms, including tax cuts. That, combined with doubts that the Federal Reserve will be able to proceed with monetary tightening, hurt the dollar. Poor macroeconomic reports did not […]

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July 18
2017

EUR/USD Tests New Yearly Highs on Weak US Dollar

The EUR/USD currency pair today rallied to new yearly highs based on US dollar weakness triggered by the failure of Donald Trump‘s administration to repeal Obamacare. The currency pair rallied higher on news that two more Republican senators had defected and would not support the US Senate’s attempt to repeal and replace the Affordable Care Act (ACA). The currency pair gained over 100 points at the height of its rally as the US dollar demonstrated […]

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July 18
2017

British Pound Drops Against US Dollar on Weak Inflation Data

The British pound today dropped sharply against the US dollar after the release of weak inflation figures by the Office for National Statistics. The major decline in the sterling highlighted the fact that that the currency was extremely susceptible to monetary policy speculation.  The weak inflation figures also signaled that a rate hike by the Bank of England might not be forthcoming this year. The GBP/USD currency pair lost over 100 points at the height of its […]

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