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Pound hit multi-week highs as Dollar drops in Asia

The Sterling extended gains against the US Dollar, after drawing support overnight when an initiative by European Central Bank President Donald Tusk on Brexit negotiations was taken as mildly positive. European Commission President Jean-Claude Juncker said before an informal summit in

Dollar on back foot as tax deal doubts

Yesterday, the Dollar was on the defensive as doubts for the prospects of US tax reforms, a fall in US Stocks, and declining High-Yield Bond prices all soured the mood, offsetting an uptick in underlying US inflation. Data released showed core

Markets mixed during Central Banker conference

Early yesterday, Sterling was flat at $1.3115, nursing losses after it skidded in the previous session against a backdrop of political turmoil as British lawmakers this week debate the UK government’s plans for leaving the European Union. The Brexit bill was

Lack of progress on US Tax reform sets cautious tone

On Thursday, the US Dollar edged lower against major currencies with rising concern on a lack of progress on tax reform in the US. The Senate tax plan seeks to delay until 2019 the introduction of a headline corporate tax cut

Oil surges to two year high after Saudi purge

Saudi Arabia has initiated a broad anti-corruption purge which included dozens of ministers and prominent businessmen in the country, in a call for combating corruption. Prince Alwaleed bin Talal, one of the world’s richest men, as reported by Forbes billionaires list,

Dollar edges lower as US Yields slip

On Tuesday, the US Dollar fell versus the Japanese Yen, as Treasury Yields slipped on uncertainty over whether the Republicans can pass their tax bill in a timely manner. The uncertainty reduces hopes for faster economic growth, and there are worries

Dollar slips as participants digest US tax cut plans

Last Friday, the US Dollar steadied against its peers, as investors shifted their focus to the non-farm payrolls data, with President Donald Trump’s nomination of Fed Governor Jerome Powell to be the next Fed chair coming as no surprise. The greenback

Pound rises as UK economy grows more than forecast

On Wednesday, Sterling rallied and reversed an earlier decline against the US Dollar after data showed the UK economy picked up speed, reinforcing expectations that the Bank of England will raise rates next week. Britain’s quarterly gross domestic product growth rose

Euro rises as investors await ECB meeting

Yesterday, the Euro rebounded early, after hitting on Monday a fresh low of 1.1725 against the US Dollar, as investors await for the European Central Bank’s (ECB) policy meeting tomorrow. The ECB is expected to offer more insight into its plans

Dollar edges higher on hopes for tax reforms

Last week on Friday, the US Dollar jumped broadly against its major counterparts, reinforced by increased optimism about the prospects for US tax reforms. The US Senate approved last Thursday a budget blueprint for the 2018 fiscal year that will pave