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Day: August 12, 2020
August 122020
Pound Falls Against US Dollar As UK GDP Contracts 20.4% in Q2
The Sterling pound today fell against the US dollar amid worries that the UK economy was not recovering fast enough following its reopening after the coronavirus lockdowns. The GBP/USD currency pair today headed lower after the UK’s Finance Minister Rishi Sunak said that many people would lose their jobs due to the COVID-19 pandemic. The GBP/USD currency pair today fell from a high of 1.3067 in the early […]
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August 122020
Euro Rallies on Positive Sentiment, Ignores Upbeat US Inflation Data
The euro today rallied higher against the US dollar driven by the risk-on market sentiment, which saw the dollar lose ground against riskier assets such as the single currency. The EUR/USD currency pair today rallied ignoring weak data from the euro area, and upbeat inflation data from the US as investors bid up the currency pair as European equities rallied. The EUR/USD currency pair today fell to a low of 1.1711 in the Asian session […]
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August 122020
Brazilian Real Crashes on Rate Cuts, Doubts of Economic Recovery
The Brazilian real is sliding in the middle of the trading week as investors are casting doubts on the South American nationâs economic recovery. There have been signs of a recent rebound in business activity, but investors are still cautious about a dovish central bank, a resurgence in COVID-19 cases, and deteriorating relations between the US and China. Its booming commodities sector is one of the few parts of the economy that is keeping Brazil alive. […]
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