Forex Marketz Daily Forex News – Fully Markets Update
The dollar, this morning during the Asian trade hours, is continuing to trade near a one month high. It is trading firm against most of its Forex peers today.
The dollar has found support as Treasury yields have recovered. Looking at Treasuries, yields have recovered from three month lows.
The British pound is weak as traders are continuing to punish the United Kingdom’s currency thanks to Brexit uncertainty
The dollar index, which measures the greenback in a basket against six other Forex peers, was firm this morning. The index was last trading at 97.420. The U.S. currency, overnight, was trading higher at 97.545. This is the index’s highest price point since November 13.
The benchmark EUR/USD Forex market was also up during the Asian trade session. The euro was trading at $1.1333. Yesterday, the euro lost 0.3 percent.
Looking at the benchmark USD/JPY market, the U.S. currency was also up. It was last trading at 113.49 yen. Earlier it hit a weekly high at 113.52 yen.
As Traders Support the Dollar They Sell the British Pound on Brexit Uncertainty
This morning, the pound was pummeled for more losses. There news reports that May’s parliamentary colleagues feel that they now have enough votes for a possible no-confidence vote in regards to her leadership.
The benchmark GBP/USD was flat at last look. The pound was trading at $1.2495. It fell to $1.2480 overnight. This is the sterling’ lowest price point since April 2017. The GBP has shed 1.8 percent this week alone.
