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Day: September 15, 2020
September 152020
Turkish Lira Flat After Crashing to Record Low on Credit Downgrade
The Turkish lira is trading relatively flat against the US dollar on Tuesday. The lira crashed to a record low on Monday after one of the world’s premier credit ratings agencies slapped Turkey with a credit downgrade and geopolitical tensions between Turkey and Greece escalate. After cratering to an all-time low this past spring, does this mean the lira can suffer another record low this year? On Monday, Moody’s Investor Services […]
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September 152020
Sterling Pound Rallies on Upbeat Risk Appetite, Falls on Brexit Fears
The Sterling pound today rallied higher against the US dollar driven by market optimism about progress in the development of a vaccine for the coronavirus. The GBP/USD currency pair’s rally did not last as it headed lower in the mid-London session amid market fears of a hard Brexit and a recovery by the US dollar. The GBP/USD currency pair today rallied from a low of 1.2814 in the Asian session to a high of 1.2926 in the mid-London session before reversing and giving up most […]
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September 152020
Euro Rallies on Upbeat Sentiment, Later Falls as Dollar Recovers
The euro today rallied higher against the US dollar buoyed by the positive investor sentiment and mostly in-line macro reports from across the euro area. The EUR/USD currency pair edged higher for the fifth consecutive session as the dollar remained on the back foot due to the looming November US Presidential elections. The EUR/USD currency pair today rallied from an initial low of 1.1858 in the Australian session to a high of 1.1900 before retracing some of its gains […]
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September 152020
Possible Support at 1.2777 on GBP/USD?
The Great Britain pound versus the US dollar currency pair seems to be bouncing off 1.2777. Is this a sustainable appreciation? Long-term perspective From the 1.2075 low, after the validation of 1.2092 as support, the price began an ascending trend, as marked by the 1.2818 higher high and 1.2251 higher low, respectively. This fueled the bullish enthusiasm and, as a result, the price climbed, almost touching the 1.3502 intermediary level. Along the path of this rise, […]
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