Day: October 14, 2020

October 14
2020

Pound Rallies on Brexit Extension Hopes Ahead of Crunch Meeting

The Sterling pound today launched a major rally against the US dollar on news that Boris Johnson was thinking of extending the Brexit talks deadline past tomorrow. The GBP/USD currency pair had initially sunk to new weekly lows before the announcement triggered a shift in investor sentiment to very bullish fueling the rally. The GBP/USD currency pair today fell to a low of 1.2863 in the early London market before rallying to a high of 1.3064 during […]

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October 14
2020

USD/TRY Crashes to Another Record Low As Turkey Unveils Three-Year Plan

The Turkish lira is crashing to a fresh record low in the middle of the trading week. The lira, which has been one of the worst-performing currencies in 2020, has repeatedly recorded all-time lows. Depleted foreign exchange reserves, slumping economic data, and geopolitical tensions – Ankara is facing pressure on many fronts, and this has weighed on the lira. On Wednesday, Treasury and Finance Minister Berat Albayrak released details of Turkey’s New Economic Program […]

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October 14
2020

AUD/NZD Falls Beneath 1.0826. What Next?

The Australian versus the New Zealand dollar currency pair made a surprise shift in direction. Is this only a temporary development? Long-term perspective The rise that started after the validation of 1.0013 as support extended until the 1.0880 high. From that peak, the price retraced under the 1.0826 level, rendering it as a false piercing. After the bulls regained their strength, they started a new surge from the 1.0566 low, not only […]

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