GBP/USD week 49

The British pound rose to a 3-month high of $1.3407 on Tuesday, before paring some gains to trade around $3.335 supported by better-than-expected manufacturing PMI data, hopes of a post-Brexit trade deal, easing coronavirus restrictions, and upbeat COVID-19 vaccine results. Final Markit PMI data showed British factory activity expanded more than initially thought and at…

USD/CNH week 48

The Chinese Yuan was little moved at 6.57744 against the US Dollar on Tuesday after the onshore rate was set at 6.5809. Investors remained mute as the US General Services Administration said President-elect Joe Biden as the “apparent winner” of the November election, giving him the green light to coordinate with federal agencies ahead of…

GBP/USD week 48

The British pound traded slightly higher at $1.337 on Tuesday, having touched a two-week high of $1.3398 in the previous session, lifted by post-Brexit trade deal optimism, positive news about a coronavirus vaccine and the end of the one-month full lockdown in England. AstraZeneca and Oxford University announced that their experimental vaccine could be 90%…

EUR/JPY week 47

The Japanese Yen fell 0.073 points or 0.07% to 103.869 against the US Dollar on Thursday. Investors retreated from the Yen after Japan’s coronavirus cases rose sharply Wednesday, logging a daily record of 2,203, with Tokyo also reporting a fresh record high in what experts say could be the third wave of the pandemic in…