USD - United States Dollar
This index representing a basket of currencies against the US dollar opened trading up the first day after the US President was selected. What is the US Dollar Index?
This currency pair, driven by US dollar demand, fell from a high of 1.191 this morning to below 1.18. What is EURUSD?
Following President-elect Joe Biden’s acceptance speech on Saturday night, currency exchanges saw an increase in action. This pair saw highs twice reach above 1.31 in the last 24 hours. What is the GBPUSD?
This Daily Commentary was written to honor the host of one of the greatest game shows of all time, who passed away sadly after a long battle with cancer on Sunday. Who was Alex Trebek?
Haven currencies found little support during election week with the US Dollar, Swiss Franc and the Japanese Yen all softening as President-Elect Biden pulled ahead of President Trump. Risk assets outperformed consequently with equities and commodity currencies doing particularly well. This comes despite President Trump's claims of victory and fraudulent voting casting dispersions on the outcome of the election and adding an element of uncertainty. Furthermore, the market continues to shrug off the threats of a Trump legal challenge as non-credible.
Last week was a busy end to the week for Sterling. On Thursday the Bank of England voted unanimously to keep rates on hold at 0.1%, however they did vote for an increase of £150bn of the bond purchasing program in a bid to boost the economy through the second wave of lockdowns across the UK. This will take the total amount of quantitative easing from £745bn to £895bn. Surprisingly this move by the Bank of England saw investors buy Sterling, with GBPUSD trading from mid-1.29s on Thursday morning to mid-1.31s by the end of the week.
1.18 - 1.191 ▲
1.312 - 1.319 ▲
0.726 - 0.733 ▲
1.293 - 1.304 ▼