Pound Rises As European Shares Traded Higher

RTTNews | vor 46 Tagen
Pound Rises As European Shares Traded Higher

(RTTNews) - The British pound strengthened against other major currencies in the European session on Monday amid increased risk appetite, as tariff tensions eased and investors looked ahead to a busy week of earnings, with four of the Magnificent Seven companies— Amazon, Apple, Meta Platforms and Microsoft — due to report their quarterly results.

Revived hopes for progress in U.S.-China trade talks and expectations of further stimulus from China, also led to the upturn of the investor sentiment.

U.S. Treasury Secretary Scott Bessent said the Trump administration is working on bilateral trade deals with 17 key trading partners, not including China, and that the latter needs a de-escalation.

Meanwhile, traders speculated that the Bank of England (BoE) will lower interest rates by 25 basis points (bps) to 4.25 percent during its May 8 policy meeting. BoE dovish bets have increased as inflation pressures appear to be abating and concerns have grown that the US's new tariff policy will impede economic development in the UK.

In the European trading today, the pound rose to a 3-week high of 0.8500 against the euro and a 6-day high of 1.3354 against the U.S. dollar, from early lows of 0.8545 and 1.3280, respectively. If the pound extends its uptrend, it is likely to find resistance around 0.83 against the euro and 1.35 against the greenback.

Moving away from an early 4-day low of 1.1003 against the Swiss franc, the pound advanced to a 3-week high of 1.1082. On the upside, 1.15 is seen as the next resistance level for the pound.

Against the yen, the pound edged up to 191.56 against the yen, from an early high of 190.67. The pound may test resistance around the 195.00 region.

Looking ahead, Canada wholesale sales data for March is due to be released in the New York session.

read more
Antipodean Currencies Slide Amid Risk-off Mood; Safe-haven CHF, JPY Rises

Antipodean Currencies Slide Amid Risk-off Mood; Safe-haven CHF, JPY Rises

The antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Friday, amid heightening geopolitical tensions in the Middle East region after Israel launched a preemptive strike against Iran in a major escalation of the regional conflict. U.S. officials confirmed that the U.S. had no involvement or role in the operation. Tensions between the U.S. and Iran are also rising over the latter's nuclear developments.
RTTNews | vor 10Std 20 Minuten
Yen Rises Against Most Majors

Yen Rises Against Most Majors

The Japanese yen strengthened against most major currencies in the Asian session on Friday.
RTTNews | vor 11Std 31 Minuten
U.S. Dollar Weakens After Soft PPI Data

U.S. Dollar Weakens After Soft PPI Data

The U.S. dollar dropped against its major counterparts in the New York session on Thursday, as soft producer inflation data for May raised hopes of a rate cut by the Federal Reserve.
RTTNews | vor 23Std 30 Minuten
Pound Slides On Weak U.K. GDP Data

Pound Slides On Weak U.K. GDP Data

The British pound weakened against other major currencies in the European session on Thursday, as U.K. economy shrank more than expected in April largely reflecting a fall in services output.
RTTNews | vor 1 Tagen
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Thursday.
RTTNews | vor 1 Tagen
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Thursday.
RTTNews | vor 1 Tagen