Day: September 22, 2020

September 22
2020

Pound Falls Against Dollar on Brexit and New UK COVID-19 Rules

The Sterling pound today fell against the US dollar as investors remained wary of the current state of post-Brexit trade talks with the rising chances of a no-deal scenario. The GBP/USD currency pair’s decline was also fueled by the increasing coronavirus cases in the UK, which saw the government impose new restrictions to curb its spread. The GBP/USD currency pair today fell from a high of 1.2867 in the mid-London session to a low of 1.2711 in the American market and was […]

Read more
September 22
2020

Chinese Yuan Tests 6.7 As PBoC Leaves LPR Unchanged, Injects More Liquidity

The Chinese yuan is continuing to make gains against the US dollar on Tuesday ahead of the manufacturing and non-manufacturing purchasing managers’ index (PMI) readings. The yuan, which had cratered to as low as 7.17 against the greenback, has been one of the top-performing Asian currencies this year, advancing nearly 3% year-to-date. Could the yuan defy market expectations even more? On Monday, the People’s Bank of China (PBoC) left its benchmark lending rate […]

Read more
September 22
2020

NZ Dollar Forecast for Week of September 21-25

The New Zealand dollar rallied strongly since the last year, though it was moving sideways since the summer months of this year. Last week was very good for the currency despite the sharp decline of New Zealand’s economy as the kiwi rivaled the Japanese yen for the title of the strongest currency on the Forex market. But what this week holds for the New Zealand dollar? Last week’s macroeconomic data was somewhat inconclusive. While […]

Read more
September 22
2020

Next Target on GBP/USD: 1.2514?

The Great Britain pound versus the US dollar currency pair, after the last drop, seems to be governed by the bears. Can the bulls turn the situation in their favor? Long-term perspective The rally that started after the validation of 1.1476 as support began an ascending trend that extended a hair away from 1.3502. Prior to the last upwards leg, the currency pair found itself above the 1.3000 intermediary level (which happens to be a psychological […]

Read more