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Day: January 10, 2018
January 102018
EUR/USD Fails to Restart Rally on Mediocre US Data
The euro rallied against the US dollar earlier today on the rumors that China may reduce or stop its purchases of the US Treasury notes. The US dollar regained some of the losses after the initial upswing in EUR/USD and did not weaken much following lackluster domestic macroeconomic data. Export and import prices report disappointed the US dollar bulls. Import prices rose by 0.1% in December after rising by 0.8% in November. Meanwhile, export […]
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January 102018
British Pound Swings Widely on UK Data and Chinese Rumors
The British pound today recorded wide swings against the US dollar as it dropped to 8-week lows and rallied higher on US dollar weakness. The rally was mainly triggered by rumors originating from China, but was short-lived as the pound headed lower much later. The GBP/USD currency pair started today’s session on a downtrend where it hit a low of 1.3482, but it rallied higher to hit a high of 1.3562 in the mid-European session. […]
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