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USDCHF Weakens Over Blue Presidency
The US dollar may not have seen the end of the bearish tunnel yet. The prospect of Democrat Biden winning the US presidency had already prompted fresh selling of the dollar. Expectations of a larger fiscal stimulus from the blue side would continue to push riskier assets to new highs.
Meanwhile, the Fed has its hands tied and did nothing but keep its zero rate policy to support the economic recovery, effectively capping the greenback on the upside.
The pair has broken below the psychological level of 0.9000 which could bring in more selling interests. 0.9200 is the immediate resistance in case of a short-term rebound.
GBPJPY Grinds Higher after BoE Support
The British pound held steady across the board as the Bank of England expanded its QE programme but stopped short of venturing into negative rates.
While the UK goes into a month-long second lockdown, policymakers have pledged to cushion the blow with additional £150 billion of liquidity. What t...
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