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Day: July 8, 2020
July 82020
Pound Rallies Against Weak Dollar on New £30 Billion Stimulus Plan
The pound today rallied higher against the US dollar, driven by positive investor sentiment and the weakening of the greenback against most of its peers. The GBP/USD currency pair today rallied to new highs as investor risk appetite soared buoyed by the government’s new fiscal stimulus plan. The GBP/USD currency pair today rallied from a low of 1.2508 at the London open to a high of 1.2623 in the American session and was trading near these highs at the time of writing. […]
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July 82020
Turkish Lira Weakens to Two-Month Low As Investors Fear Another Currency Crisis
The Turkish lira is slumping to its lowest level against the US dollar in two months as investors fear that it is poised for another currency crisis. The lira has been steadily rebounding since falling to an all-time low against the greenback, but analysts warn that the fundamentals, from inflation to foreign exchange reserves, do not support its gains. Is another crash going to happen soon? The Turkish government […]
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July 82020
AUD/NZD Getting Closer to 1.0551
The Australian dollar versus the New Zealand dollar currency pair is approaching an important support area. Will the bulls be able to withstand the bearish pressure? Long-term perspective The appreciation that started from the 0.9991 low seems to have ended at the 1.0880 high, as the price confirmed the important resistance level of 1.0826. The confirmation sent the price under the next major support area, 1.0707. Once there, the bears took the opportunity to drive the price […]
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