Blog


Dollar fights back

The dollar enjoyed a small rebound today as investors bought back the greenback following its plunge to three-year lows.

The U.S. currency has been hurt by a variety of factors this year, including concerns that Washington might pursue a weak dollar strategy and the perceived erosion of its yield advantage as other countries start to scale back easy monetary policy.

Cable is looking to consolidate in the lower end of the recent range following Friday’s sharp drop, where it seems to have found some decent support in the 1.4000 area.

However, GBP should stay wary on the upcoming speech by Governor Carney later today, particularly after the hawkish tone delivered by the central bank at its latest meeting earlier in the month.

Prime Minister Theresa May made her case on Saturday for a new security treaty with the EU from next year, winning support from EU and U.S. officials who agreed the issue was too important to risk getting subsumed in broader Brexit negotiations.

In a speech to Western leaders and officials in Munich, May promised that London would continue to lead military missions and share intelligence

Leave a Reply

Your email address will not be published. Required fields are marked *

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd’s Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Manager. Ebury Partners UK Limited are authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). | Terms and Conditions | Privacy Statement | Careers