Market News

The British Pound moved away from a 3-week trough as FX traders await the Prime Minister's speech which could help revive sentiment for the beleaguered currency.

The dollar traded near one-month highs early in Wednesday’s Asian session after comments out of Italy shook the currency markets on Tuesday and the fear crept into Wednesday’s Asian trading session.

The Euro earlier struck a 6-week trough after an Italian official claimed that the resolution to Italy's problems would be to abandon the Euro.

Asian stock markets remained mostly in the red on Tuesday afternoon as traders remained apprehensive about the trade war that appears to be heating up between the U.S. and China.

The Pound Sterling got a boost against the US Dollar

The US Dollar edged lower versus the Canadian Dollar during Monday trade in Asia as investors await the upcoming NAFTA deadline.

This week is likely to be active, as although there is less important data scheduled compared to last week, we will get the U.S. Dollar-related Non-Farm Payrolls data at the end of the week.

Japan’s Nikkei soared to a 27-year high on Friday, boosted by a stronger dollar and Wall Street’s gains on Thursday.

As the third largest economy in the Eurozone, the news that there will likely be a postponement of Italy's budget meeting resulted in nervous investors.

Federal Reserve raised interest rates a quarter point on Wednesday and remained committed to gradually tightening monetary policy in light of its expectation for economic growth this year and next.

While cautious optimism has managed to provide the Pound Sterling with some support, the doubting factions have capped momentum and pushed the Pound lower during Wednesday trade in London.

The dollar traded in a tight range on Wednesday.

Sterling continues to move higher with a general improvement in investors' risk appetite as hopes continue to rise that the UK government will be able to secure a Brexit deal.

The U.S. dollar was higher on Tuesday, as traders looked for hints from the U.S. Federal Reserve which analysts expect to raise interest rates later this week.

Hope of a deal for the UK government has helped to push the Pound higher against the US Dollar.