Tag: Currencies

Pound Tumbles on Brexit Concerns

Pound Tumbles on Brexit Concerns

The pound was down 1.13% against the U.S. and 0.77% against the Euro at 21:15 GMT, as concerns regarding the nature of Britain's exit from the European Union push the currency to a three-month-low. Beginning the trading week down almost 2% against the dollar in early-hour trading, the British pound remained a vivid illustration of … Continue reading Pound Tumbles on Brexit Concerns

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Despite Beijing’s Efforts, the Yuan Continues to Plummet

Despite Beijing’s Efforts, the Yuan Continues to Plummet

Attempts by Beijing to stem or reverse the fall of the yuan appear increasingly futile as the currency continues its depreciation against the dollar, reversing gains it had made in trading sessions on January 4 and 5. The yuan had managed to increase its position against the U.S. dollar as Beijing announced new measures to … Continue reading Despite Beijing’s Efforts, the Yuan Continues to Plummet

The Direction of Gold Could be Varied as Dollar Predicted Considerable Shifts in 2017

The Direction of Gold Could be Varied as Dollar Predicted Considerable Shifts in 2017

Gold enjoyed a modest rise over the course of 2016, with occasions of significant volatility adding to its increase. With gold enjoying consecutive weeks of increase over the period leading up to Brexit, in which it 6 week increase in value, rising from a low of $1.199.90/ounce at the concluding trading week of May, and increasing … Continue reading The Direction of Gold Could be Varied as Dollar Predicted Considerable Shifts in 2017

Dollar Reverses Losses Against Pound from Previous Trading Sessions

Dollar Reverses Losses Against Pound from Previous Trading Sessions

The dollar rose against many of the currencies it sustained losses against in the wake of Wednesday's release of minutes from the Feds December meeting, from which investors and analysts were attempting to deduce the possibility of an interest rate increase in 2017. Despite incurring a significant drop against the British pound in the two … Continue reading Dollar Reverses Losses Against Pound from Previous Trading Sessions

Pound Marks Second Week of Recovery But Fall Still Likely to Continue

Pound Marks Second Week of Recovery But Fall Still Likely to Continue

The release of minutes from the Feds December meeting enabled the pound to enjoy a second week of moderate increase against the U.S. currency, however there is still a long way for the pound to fall. Since Brexit the pound has continued to descend against the U.S. dollar, with few regions of increase along the bumpy … Continue reading Pound Marks Second Week of Recovery But Fall Still Likely to Continue

Dollar Tumbles Against Yuan

Dollar tumbles as China’s central bank makes bold attempt to prevent increasing outflow of currency from the country. The dollar fell by 1.15% at 12:45 EST continuing a third consecutive trading session of losses against the Chinese yuan, with Tuesday’s being particularly severe, as the Chinese central bank makes efforts to prevent the yuan falling further, after … Continue reading Dollar Tumbles Against Yuan

Euro Continues Gain Against Dollar

The euro continued its gain against the U.S. dollar with a rise of 1.02% at 12:22 EST, continuing from Wednesday's trading session, in which the currency closed up 0.85166 against the dollar, pushing against three consecutive days of losses in trading sessions in the days prior to the release of minutes from the Feds December … Continue reading Euro Continues Gain Against Dollar