The pound sterling reversed course after slipping lower against the common currency Euro after the Bank of England announcement of upcoming monetary policy changes.
Trump Mounts Legal Challenge to Vote Counts; Recounts Likely in Georgia and Wisconsin; Stocks Rally; Forex Markets Consolidate
As election results from the US continue to trickle in, the pound sterling lost more than 1% versus its US counterpart.
Election night is over, and against the polls projections, the results seem unclear at best.
Trump Wins Florida, Texas; Biden Flips Arizona; Trump Ahead in Michigan, Wisconsin Counts
The pound sterling remained relatively calm during London trade on Tuesday, neutral versus its European counterpart and higher against a softer greenback.
Uncertainty about the US elections together with the surge in coronavirus cases is weighing into the performance of the oil and stock markets, which are experiencing a lot of volatility.
Stocks Higher; RBA Cuts Interest Rate; U.S. Vote Begins
The Pound Sterling slipped close to a 4-week trough versus its US counterpart during London trade on Monday after the government announced another set of pandemic-related restrictions.
Stock futures were modestly higher on Monday despite concerns that new lockdowns in Europe and rising COVID-19 cases in the US could hinder global economic recovery.
Coronavirus Cases and Deaths Rise Strongly in U.S.A. and Europe; New Lockdown Announced in England
The Euro continues to come under pressure, especially against the greenback, after Thursday's announcement by the head of the European Central Bank
The safe haven greenback moved higher during the London trading session while higher risk currencies were subdued as a result of market players' worries about the resurgence of Coronavirus infections.
The Bank of Japan announced its decision to leave the cash rates unchanged, at -0.1 percent, a move which confirmed analyst expectations.
Coronavirus Cases and Deaths Rise Strongly in U.S.A. and Europe; New Lockdowns Announced; S&P 500 Falls Sharply