This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
EURGBP Surges as Brexit Talks Stall
The British pound slipped into troubled waters after Brexit became the flashpoint once again.
Boris Johnson’s Internal Market Bill, which could override the withdrawal agreement in regards to Irish borders could wage another tug-of-war with the EU.
Tensions have risen as talks resume this Monday, and the pound’s sell-off is yet to end as markets anticipate significant roadblocks ahead. The hint of a no-deal by the October 15 deadline is likely to keep UK’s currency under pressure.
The euro has broken above 0.9050 and is on its way to last March high of 0.9500. In case of a pullback 0.9000 is the immediate support.
NZDUSD Grinds Higher Ahead of FOMC
The US dollar’s latest comeback may turn out to be short-lived as markets brace for the upcoming FOMC. Rising jobless claims would argue in favor of additional stimulus measures.
As Congress failed to deliver on the fiscal front, markets have switched their attention to the Fed to tie up loose end...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.