The following Forex news reports are the latest developments of the Forex market. The news reports are updated frequently and include all the events that affect the foreign exchange trading industry.
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The dollar was moderately lower during Wednesday’s Asian session, more likely due to traders waiting eagerly for the Federal Reserve announcement.
The Pound Sterling managed to rise up recent pressure after earlier falling to a 1-week trough versus the US Dollar.
Global markets took a breather on Tuesday morning as traders eyed the busy week ahead which includes President Trump’s first State of the Union address tonight and Federal Reserve Chair Janet Yellen’s last policy meeting tomorrow.
The Pound Sterling edged lower versus the US Dollar as Theresa May, the UK Prime Minister, appears to be facing a new challenge leadership challenge which may play a hand in her attempt to gain favorable terms for the Brexit.
The dollar took a break from its downtrend on Monday morning, posting modest gains against its primary trading partners, and sending the dollar index slightly higher, to 89.18 .DXY
This week will see a heavier and more serious news agenda than last week, with the key items of central bank input all concerning the U.S.A.
Brent crude futures hit new highs on Thursday, hitting over $71 per barrel before retreating slightly.
A sense of optimism regarding the UK economy and the hopes pinned on a favorable outcome for the Brexit negotiations have helped the Pound Sterling strengthen to a level not seen since the days before the EU referendum in late June 2016.
The U.S. dollar continued its decline during Thursday’s Asian trading session, falling against its primary trading partners and sending the dollar index down 0.38 percent to 88.90 .DXY.
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The Pound Sterling struck a new post-Brexit peak against the US Dollar, extending the recent rally for the Pound.
The U.S. dollar fell even further during Wednesday’s London trading session after Treasury Secretary Steven Mnuchin commented at the World Economic Forum in Davos that the U.S. welcomes a low dollar as it can benefit the country.
The U.S. dollar hit fresh three-year lows during Wednesday’s Asian session, even after Jerome Powell was confirmed for a four-year term as the new Federal Reserve chair on Tuesday, in a move expected to continue the country’s growth trajectory.
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After a three-day shutdown, U.S. legislators passed a measure that will provide funding for the U.S. government until February 8.
Most major currencies were higher against the US Dollar during London trading as investors ponder the possible duration of the US federal government closure.