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Euro Drops After ECB Rate Cut, Pound Consolidates Near 1.2600
EUR/USD Euro buyers were unable to overcome resistance at 1.0620–1.0600. Following a sharp decline in November, the pair attempted a recovery and made several attempts to hold above 1.0600, but so far, all efforts have failed. Yesterday, the European Central Bank (ECB) meeting delivered a widely anticipated 25-basis-point cut to the base rate, lowering it…
EUR/USD Analysis: US Dollar Strengthens Following Inflation Report
Yesterday, the US Consumer Price Index (CPI) report was released, showing an increase in consumer prices. According to Forex Factory, annual CPI rose from 2.4% to 2.7%, exceeding analysts’ expectations of a 2.6% rise. As reported by Reuters, the data supports the stance of Federal Reserve Chair Jerome Powell, who has repeatedly stated that the…
US Treasury, Taiwan reaffirm pledges against currency manipulation
US Treasury, Taiwan reaffirm pledges against currency manipulation Source link
Sterling squashed by dollar steamroller, traders watch out for Reeves’ speech By Reuters
LONDON (Reuters) – The pound dropped to its lowest against the dollar since early July on Thursday, brushed aside by the U.S. currency’s relentless rise following Donald Trump’s U.S. election victory. Those developments are swamping British news for investors, although they will be keeping an eye on finance minister Rachel Reeves’ first Mansion House speech…
