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Day: January 9, 2018
January 92018
British Pound Declines on Chaotic Cabinet Reshuffle
The British pound today registered a massive drop against the US dollar after a cabinet reshuffle by Theresa May turned chaotic. The cabinet reshuffle turned chaotic after the Education Secretary Justine Greening quit the government and Health Minister Jeremy Hunt refused to vacate his office. The GBP/USD currency pair lost over 70 points from a daily high of 1.3582 hit during the Asian session to hit a low of 1.3510 in the early American […]
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January 92018
Euro Declines Despite Solid German Data as Traders Remain Cautious
The euro fell against the US dollar and the British pound on Tuesday, despite positive economic data in Germany, Europeâs biggest economy. Demand for the shared currency was faint as caution spread between traders as they worried of corrective movements that may follow a rally that lasted for months. Destatis, Germanyâs official statistical office, released two reports earlier today on industrial production and trade balance. The first report stated that industrial […]
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