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Day: July 25, 2019
July 252019
Pound See-Saws on Boris Johnsonâs Cabinet, Later Crashes
The British pound today see-sawed between gains and losses as investors remained cautious after Boris Johnson assumed office as the new British Prime Minister. The GBP/USD currency pair was weighed down by the cabinet reshuffle announced by the new PM with many of those appointed being hard Brexiteers, which increases the chances of a no-deal Brexit. The GBP/USD currency pair today see-sawed between a high of 1.2518 and a low of 1.2465 but was headed […]
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July 252019
Euro Weakens As ECB Signals September Rate Cut, More QE
The euro fell to a two-year low against some of its major currency rivals on Thursday after the European Central Bank (ECB) left interest rates unchanged but prepared investors for additional easing in the fall. President Mario Draghi essentially maintained a sour outlook on the eurozone economy, suggesting that the ECB needs to maintain and deliver a âhighly accommodativeâ policy even when Christine Lagarde becomes the new head. At its July policy meeting, […]
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July 252019
EUR/USD Extremely Volatile After ECB Announcement
EUR/USD was extremely volatile today following the monetary policy announcement from the European Central Bank. While the ECB did not change its monetary policy at today’s meeting, the central bank signaled about the possibility of an interest rate cut in the future. That made the currency pair drop initially. But the pair rebounded very quickly as some market participants thought that the statement was not as dovish as was expected. Ultimately, […]
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