|Day's range||1.242 - 1.249|
|52-week range||1.1959 - 1.3349|
Investing.com - The safe haven yen drifted lower against the other major currencies on Monday as risk appetite improved after two days of trade talks between the U.S. and China in Washington, which were described as productive.
The SNB left its base rate unchanged while cutting growth and inflation view. In doing so, it said it “remains willing to intervene in the foreign exchange market as necessary.” The BOE surprised no one when it held its policy rate unchanged at 0.75% in a unanimous vote. The BOJ kept monetary policy on hold but hinted at possible action in October.
The British pound went back and forth during the week, testing the 1.25 level on both sides showing a bit of a neutral candle stick. However, we are running into a significant amount of resistance, so this could be a hit as to the next move.
The British pound initially tried to rally during the trading session on Friday but gave back quite a bit of the gains and now seems to be ready to show signs of exhaustion and perhaps finally roll over for a longer-term move.
During September, the British pound is struggling to get out of the pit where it fell on the fear of no-deal Brexit. This decline sent GBPUSD in August and early September to levels that had not been consistently achieved since 1985. However, it also probably attracted the interest of speculators who consider the current historically low levels as an excellent opportunity to buy over-sold British currency.
The Canadian, Mexican and British currencies are trading sideways on Friday. With no U.S. fundamental releases on the schedule, I expect an uneventful North American session.
The British pound is set to post the largest weekly gain among its major currency counterparts as progress towards an EU exit continues to head in a positive direction.
The British pound has gone back and forth over the last couple of days, as we are hanging just below the crucial 1.25 handle. That’s an area that obviously would attract a lot of attention, but it also has a lot of technical factors attached to it as well.
Investing.com – The Bank of England left interest rates on hold on Thursday. as it awaits further clarity on Britain’s preparedness for exiting the EU.
Investing.com - The yen rose from a seven week low against the U.S. dollar on Thursday after the Bank of Japan kept monetary policy on hold, in the wake of the Federal Reserve’s overnight decision to cut rates.
It’s a big day for the Pound, with retail sales figures due out ahead of the BoE monetary policy decision. Will there be any dissenters to sink the Pound?
The British pound has fallen a bit from the 1.25 level again waiting for the Federal Reserve. And as a result it’s likely that the market is going to continue to recognize this area as being crucial ahead of the Federal Reserve announcement.
UK Inflation was weaker than expected on Wednesday and with the BOE announcement a probable non-event on Thursday, Sterling continues to be strapped by Brexit uncertainty.
After briefly piercing to a fresh eight week high, GBP/USD has fallen under pressure in early trading on Wednesday as UK inflation data came in softer than expected.
Relief is set to sweep across financial markets after Saudi energy minister pulled down the threat of an escalation in geopolitical tensions in the region, and by stating the Oil production output will be fully back online by the end of September.
With economic data on the lighter side, the market focus will be on Brexit chatter and the FOMC. For the Loonie, inflation figures will also influence.
The British pound broke down a bit early during the trading session on Tuesday but continues to find stubborn support just below. By doing so, it looks as if the market is going to hang about the 1.25 region, trying to decide whether it’s too expensive or not.
Investing.com - The Canadian dollar was weaker against the U.S. dollar on Tuesday after soft manufacturing data and falling oil prices erased gains from the prior session.