The sterling continues to enter the volatile market as prices fluctuate since Friday. The currency is heavily struck by the European Union’s Brexit negotiator’s note about the perilous post-Brexit transition deal was “not given”. To add, the dollar was also surging in the market as Treasury yields continue to climb up, pushing the currency’s prices up.
After extremely dormant and lackluster January, the greenback has finally managed to hit a great surge last week as it managed to apprehend further dips and having the dollar index climb by incremental amounts against major currencies.
Furthermore, the prices of both euro and pound were higher today in the Asia Pacific trading despite having a tumulus and rocky end of the week last Friday. The dollar, on the other hand, was trading way softer against a basket of major currencies and shrugging last week’s increase.
Euro, Pound, Dollar Prices
The euro is looking to offset a bulk of the dips they have last week as they climb a total of 0.3% on the midday trading in Hong Kong at $1.2287. The euro continues to keep its dominating performance despite last week’s stumbles. Furthermore, the pound was also trading higher at $1.3870 and is trading a total of 0.3% higher.
The two major currencies were up from a massive three-week low which they both experienced last week. Both currencies were also volatile since last week after some of the global equities sell-off pushed the prices down on the market.
On the other hand, the dollar prices were also slimmer than expected after having a stellar performance last week; the dollar index, which measures the strength of the greenback against major currencies, is down by a whopping 0.3%. The global equities sell-off is still expected to hit and to continue this week and will eventually buoy the greenback up.
Pound’s Price Last Week
The prices were a bit better this week prior to their performance from the last week; the pound managed to shed a total of 0.9% after the EU’s note about the transition to Brexit. All-in-all, the pound continues to keep a dominating performance in the market; the currency managed to hit massive success on the massive bet on Britain’s secure transition deal with the EU.
However, the prices continue to drop and remain on the volatile side of the market as some of the investors that bet for the great Brexit transition are having concerns and doubts about the actual effectiveness of the transition.
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