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Dollar Dives Down
The US dollar weakened significantly over the European morning on Friday as optimism over a partial US/China trade deal led equities higher, taking some of the safe-haven bid out of USD. The fall comes despite data yesterday which showed core inflation rising to one year high in August. For now, however, the market is still expecting the Fed to ease this month though pricing for a further hike in 2019 is receding. USD index trades 97.59 last.
EUR Rallies Despite ECB Easing
EURUSD remains firmly bid today as the market continues to rally in the wake of the ECB announcing a wave of easing measures at yesterday’s September meeting. Despite both a cut to the deposit rate and the restarting of QE, it seems that some were expecting a more aggressive move, leading EURUSD back up to challenge the 1.1112 level last.
Fading No-Deal Brexit Risks Boost GBP
GBPUSD has been firmly bid today. Optimism around the receding chances of a no-deal Brexit happening by October 31st has caus...
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