Pound Down As Investors Await Fed Announcement

RTTNews | hace 849
Pound Down As Investors Await Fed Announcement

(RTTNews) - The pound depreciated against its major rivals in the European session on Tuesday, as investors awaited the Federal Reserve's policy decision for more clarity on the rate outlook.

The Fed is expected to deliver a 25 basis point interest rate hike when it ends its two-day meeting on Wednesday.

Chair Powell is expected to sound hawkish and reiterate that interest rates will continue to rise further and remain higher for longer.

Data from the Bank of England showed that UK mortgage approvals declined to the lowest level in more than two years in December as the cost of living crisis and the rising interest rate took its toll on the property market.

The number of mortgages approved for house purchases fell to 35,600 in December from 46,200 in November.

Reversing from its previous highs of 1.2371 against the greenback and 0.8772 against the euro, the pound dropped to 6-day lows of 1.2295 and 0.8818, respectively. The currency is seen finding support around 1.21 against the greenback and 0.90 against the euro.

The pound depreciated to a 6-day low of 159.90 against the yen and a 5-day low of 1.1365 against the franc, down from its prior highs of 161.19 and 1.1435, respectively. The currency is poised to find support around 157.00 against the yen and 1.11 against the franc.

read more
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Friday.
RTTNews | hace 11 minutos
U.S. Dollar Falls After Tariff Ruling

U.S. Dollar Falls After Tariff Ruling

The U.S. dollar weakened against its major counterparts in the New York session on Thursday, as a federal court ruled against Trump's tariffs, dealing a blow to a key part of his economic agenda.
RTTNews | hace 10h 28min
Yen Falls As U.S. Court Blocks Trump's Tariffs

Yen Falls As U.S. Court Blocks Trump's Tariffs

The Japanese yen weakened against other major currencies in the Asian session on Thursday, after a U.S. federal court blocked U.S. President Donald Trump's attempt to impose sweeping reciprocal tariffs against its global trading partners under emergency powers, saying he exceeded his authority.
RTTNews | hace 22h 58min
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Thursday.
RTTNews | hace 1
U.S. Dollar Rises As Traders Await FOMC Minutes

U.S. Dollar Rises As Traders Await FOMC Minutes

The U.S. dollar strengthened against other major currencies in the Asian session on Wednesday, as traders await the minutes from May's FOMC meeting due later in the day.
RTTNews | hace 1