Pound Set to Break Record Losing Streak vs Euro; May Statement Eyed
Friday, 24 May 2019 16:14 WIB | CURRENCIES | EuroPoundsterling
The British pound was on track to snap a record losing streak against the euro on Friday as British Prime Minister Theresa May appeared to be about to announce her departure date after two years of trying to push through a Brexit divorce deal.
While there is no clarity on who her successor will be, markets are concerned that the next prime minister will want a tougher divorce deal, although the EU has said it will not renegotiate the Withdrawal Treaty it sealed in November.
Those concerns have pulled the rug from under the pound over the last two weeks, prompting traders to sell the currency against the euro and the dollar aggressively and dialling up expectations of Britain crashing out of the EU without a deal.
But on Friday, markets were broadly in a consolidation phase after 14 consecutive days of losses against the euro as traders trimmed back some of their negative bets on the pound before a mid-morning statement by May.
The pound edged up 0.1 percent up against the euro at 88.28 pence. Against the dollar it also rose 0.1 percent higher, to $1.2672.
Source : Reuters
Wednesday, 26 June 2019 23:17 WIB
The dollar rose on Wednesday as traders scaled back expectations of an aggressive interest rate decrease next month after comments from Federal Reserve officials that such a move may not be warranted ...
Wednesday, 26 June 2019 15:50 WIB
The U.S. dollar edged higher on Wednesday, pulling away from a three month low as markets dialed back expectations for aggressive interest rate cuts by the Federal Reserve next month, but expectations...
Wednesday, 26 June 2019 08:27 WIB
While renewed fears of no-deal Brexit and less dovish Fed speak dragged the GBP/USD pair back from a month™s high, the Cable trades little changed near 1.2690 during early Wednesday.
The UK Prime M...
Tuesday, 25 June 2019 23:16 WIB
The dollar slipped against most major currencies on Tuesday, hitting a three-month low versus the euro, as expectations of multiple decreases of U.S. interest rates by the Federal Reserve have spurred...
Tuesday, 25 June 2019 17:26 WIB
The U.S. dollar fell to a three-month low against the euro and dropped to its weakest against the Japanese yen since early January as the prospect of monetary easing by the Federal Reserve knocked dem...