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#1 2020-08-15 06:15:39

From: Switzerland, Basel
Registered: 2020-08-14
Posts: 45

GBP Sterling gained against a strong US Dollar on Monday after failing to hold onto last weeks five month’s high with further swings expected in the coming weeks.
With lockdown measures lifted over the past two months, better than expected date will provide some short term volatility for the pound with GDP and unemployment data out later this week.
Furthermore, focus will be on fiscal stimulus in the US and that could also affect sterling’s position against the dollar.
At the moment.

Sterling has no real direction due to ongoing Brexit uncertainty

economic data and fears of a potential second wave.
The economic impact of the coronavirus and difficult Brexit negotiations still leaves an option for the Bank of England to cut interest rates to zero if needed and this could hurt the pound in the long run.
USD The dollar rose on Monday as investors focused on the fiscal stimulus plan in the United States and US-China tensions ahead of key trade talks this week.
The greenback rose to one week highs due to recent better than expected non-farm payrolls data, but the dollar still has been on the decline.
Speculators increased net short dollar positions in the latest week, according to weekly futures data on Friday.
The dollar’s strength at the end of last week was also due to escalating tensions between the United States and China, .

With the US imposing sanctions on top Hong Kong and Chinese officials

This led to safe-haven flow increasing which pushed the dollar higher.
Senior officials from the US and China will meet this week to review the implementation of their Phase 1 trade deal.
Key announcements None The post Sterling gains against a strong US Dollar appeared first on RationalFX.


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