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 pound sterling steadied during Tuesday's London trade after a sharp rebound on Monday as Forex traders' collective hopes are growing that a Brexit agreement will be signed.
The United States Electoral College finally cast its votes, confirming the victory of President-Elect Joe Biden.
On Friday, 11th December 2020, the GBP/USD currency pair closed the week at 1.3218, down by 1.42% from its weekly open at 1.3409.
U.S. Coronavirus Vaccinations Begin; Fresh Talks Ongoing Between E.U./U.K.; New European Lockdowns; Stocks & Risky Assets Lower Against Dollar.
The pound sterling gained ground against its US rival during London trade on Monday after it was agreed by both parties that discussions would be extended beyond the looming deadline.
European Central Bank (ECB) Governing Council Member Francois Villeroy de Galhau said in an interview that any economic effect caused by coronavirus vaccines won't be felt until the end of 2021.
Fresh Talks Ongoing Between E.U./U.K.; Pound Jumps on Weekly Open; Stocks & Risky Assets Higher Against Dollar.
EU and UK: No Deal Yet as Sunday is Declared a Deadline.
On Thursday, the European Central Bank left some Forex traders disappointed despite its expansion of the asset purchasing scheme.
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Concerns over whether or not the UK leadership can get a deal inked with their EU counterparts has pushed the pound lower versus both the greenback and the euro during London trade.
The United Kingdom's gross domestic product gained 0.4 percent in October, slowing down from the previous month's 1.1 percent and remaining in line with expectations.
The appearance of a persistent long-term trend in the U.S. Dollar breaking to new lows is something traders should take note of. Several facts about the U.S. Dollar tend to be underappreciated within the Forex community:
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The pound sterling rose higher against the greenback after a string of weak days as the Prime Minister meets with the head of the European Commission in a list-ditch effort to sign off on a Brexit agreement.
Treasury Secretary Steven Mnuchin announced that he discussed a $916 billion stimulus plan with House Speaker Nancy Pelosi.