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Day: May 19, 2020
May 192020
Pound Rallies Higher on Mixed Jobs Data and Upbeat Investor Sentiment
The British pound today rallied higher against the US dollar extending yesterday’s gains driven by positive investor sentiment and the mixed UK jobs data. The GBP/USD currency pair today posted gains after the release of the latest jobs data showing a better than expected unemployment rate. The GBP/USD currency pair today rallied from a daily low of 1.2184 in the Asian session to a high of 1.2268 in the early American session but was slightly […]
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May 192020
Turkish Lira Strengthens Ahead of Interest Rate Decision
The Turkish lira is strengthening against several major currency competitors on Tuesday as investors anticipate the central bank to cut interest rates. Forex markets are also optimistic that Ankara can establish swap lines with foreign central banks to mitigate its currency crisis. The lira has been rebounding since it crashed to a record low against the US dollar earlier this month. According to a Reuters poll of economists, […]
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May 192020
GBP/USD Bounced from 1.2092
The Great Britain pound versus the US dollar currency pair corrected from the 1.2100 area. Is this a simple correction of the downwards movement, or is it a bullish comeback? Long-term perspective The rally that commenced from the low of 1.1409, after the significant support level of 1.1476 was validated, lost its steam just under the 1.2514 mark. From there, a consolidative phase took shape, one that was limited by the 1.2514 […]
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