Thu, March 28, 2024

FX Market: Dollar Strengthens, Pound Weakens

Wibest Broker- FX Market: Dollar displaying an increase on the last trading.

FX MARKET – Last Tuesday in Europe, nearly on its third week, the dollar was close to being on its highest level on trading. At the same time, optimism has been damaged, raising the possibility of a disruptive and disorderly Brexit by the euro and sterling.

On Monday, the greenback against a basket of six major currencies was at 96.920, up some 0.2% from its closing levels, which was measured by the dollar index.

After lawmakers voted on withdrawing all the proposed alternatives to the government’s agreement, the pound dropped a cent but recovered a fraction to $1.3044 on Monday.

After multiple rounds of voting in over three weeks, for the first time, the euro plunged below $1.12 on Brexit fears that could kick the eurozone economy into recession.

Hard Brexit is Predicted

Wibest Broker- FX Market: The Brexit discrepancy being seen on its trade war.

In a radio station, on Monday, Clemens Fuest, President of the Institute for Economic Research in Munich and a member of the German government’s council of economic advisers said that a hard Brexit “could be the straw that breaks the camel’s back” with advice on the German economy into recession.

This morning, the government of the United Kingdom arranged a meeting for a projected crisis, deciding to bring or quit the thrice-rejected Withdrawal Agreement for another set of voting on Wednesday. Another option is to ask for an extension on the European Union regarding the Brexit deadline.

Despite leaving the regular policy unchanged, an anticipated cut in the interest rates was hinted by the Reserve Bank of Australia that made the Aussie also plunge against the dollar overnight.

As approvals on buildings grew on their strongest rate in five years, China’s economy boosted in parallel with the Australia that decelerated abruptly.

Swinging wildly through a 4% range after the prior 24 hours in the wake of Sunday’s municipal election results in Istanbul, the Turkish lira was at 5.5728 against the dollar.

      • Interested in trading the British pound? Read WiBestBroker’s comprehensive review on FXChoice.

YOU MAY ALSO LIKE

Coinbase Shares Surge as it Agrees to a Settlement

Quick Look: The SEC has sued Coinbase for operating as an unregistered

USD to CNY: Chinese yuan and US dollar bills

Quick Look: The Yuan (CNY) has seen a depreciation of approximately 2%

Dollar and Euro

Quick Look: EUR/USD rate Dips to 1.0820 during the Asian session. The US

COMMENTS

Comments are closed.

BROKER NEWS

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex

BROKER NEWS

Stock Report – stock exchange background – WibestBroker

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex in