EUR/GBP: BoE caution supports cross – ING
The US Dollar Index (DXY) crashes below $98.50, signaling a major momentum shift despite Middle East tensions. Discover why EUR/USD is holding strong above the $1.1750 breakout zone.
GBP/USD rose to 1.3506 on Tuesday. Sterling has moved comfortably away from last week's one-month high of 1.3480.
The Pound US Dollar (GBP/USD) exchange rate opened the week on the back foot, as renewed geopolitical tensions following the breakdown in US-Iran peace talks over the weekend supported the safe-haven US Dollar. Latest — Exchange Rates:Pound to Dollar (GBP/USD): 1.34581 (+0.47%)Euro to Dollar (EUR/USD): 1.17097 (+0.29%)Dollar to Japanese.
US President Donald Trump says Iran wants to make a deal to end the more than months-long war with discussions reportedly underway for second round of talks between the two sides, according to Bloomberg sources, easing the risk of a worst-case energy shock that's been hanging over markets for weeks.
GBP/USD rallies to seven-week highs above 1.3500 as US Dollar fades
The pound is holding onto recent gains on Monday but struggles to extend the move northwards, as U.S.-Iran talks over the weekend failed to deliver a breakthrough and prompted a strong response from President Trump. However, reports that Iran may be considering ending its uranium enrichment programme — a key U.S. condition for a broader agreement — have helped stabilise sentiment.
GBP/USD holds near 1.3460 as Iran talks disappoint traders
In this webinar we take an in-depth look at the technical trade levels for the US Dollar (DXY), Euro (EUR/USD), British Pound (GBP/USD), Australian Dollar (AUD/USD), Canadian Dollar (USD/CAD), Japanese Yen (USD/JPY), Swiss Franc (USD/CHF), Gold (XAU/USD), Crude Oil (WTI), and Bitcoin (BTC/USD), and S&P 500 (SPX500), Nasdaq (NDX), and Dow Jones (DJI). These are the levels that matter on the technical charts into the weekly open.
The risk situation in the Forex markets continues to be driven by headlines coming out of the Middle East.
The US Dollar Index (DXY) rebounds to 99.05 as failed Iran talks and naval blockade threats reignite safe-haven demand. Discover if the $98.50 trendline support will hold.
Will Hormuz inflation risks trigger a breakout this week following the sharp surge in US CPI and escalating tensions between the US and Iran after a stalemate in weekend negotiations?