Day: February 21, 2018

February 21
2018

EUR/USD Rebounds Sharply After FOMC Minutes

EUR/USD was moving lower for the most part of the current trading session but jumped sharply following the release of the Federal Open Market Committee policy minutes. That was a bit puzzling, considering that the notes portrayed a favorable picture of the US economy and promised further interest rate increases. Some market analysts speculated that the dollar dropped because the minutes did not promise faster pace of rate hikes. As for other releases […]

Read more
February 21
2018

Pound Declines on UK Jobs Report, Recovers on BoE Speeches

The British pound was on a downtrend against the US dollar from the Asian session, but its decline accelerated after the release of the UK labour market report. The pound recovered some of its losses after the hawkish tone outlined by Bank of England policymakers before the UK Parliament’s Treasury Committee. The GBP/USD currency pair declined by over 100 points from an opening high of 1.4009 to hit a low of 1.3905 in the mid-European session, before retracing […]

Read more