United States Dollar – Daily Market Updates with latest USD exchange rates, charts and rate changes in the major USD cross currency pairs for the last day, week and quarter.
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United States Dollar was Friday down -0.18% against the Euro, up 0.08% against the Canadian Dollar, up 0.24% against the Australian Dollar, down -0.17% against the British Pound Sterling, down -0.74% against the Mexican Peso, down -0.88% against the Japanese Yen, down -0.48% against the Indian Rupee and down -0.13% against the Philippine Peso.
The Pound (GBP) jumped against the majority of its peers on Thursday as the UK currency was buoyed by the UK’s latest retail sales figures.
Data released by the ONS showed that sales growth struck 0.1% in October, with markets welcoming even this modest sign of growth after sales tumbled to -0.7% in September.
The Pound (GBP) initially tumbled against the majority of its peers on Wednesday as the UK’s latest employment data showed that wage growth continues to lag well behind inflation.
Markets fear that this continued fall in real wages will really start to weigh on the UK’s economic growth over the coming months as consumers cut back spending as finances become tighter.
The Pound (GBP) initially slumped on Tuesday as the UK’s latest inflation figures weighed on market sentiment.
With the Bank of England (BoE) unlikely to raise interest rates for the foreseeable future, the news that UK inflation held at a five-year high in October prompted concerns that consumers are coming under increasing financial pressure.
The Pound (GBP) nosedived at the start of the week’s session, as mounting political pressure on Theresa May and reports of a possible leadership contest shook market confidence in the UK currency.
However Sterling began to claw back some of its losses by the afternoon as it became clear that Tory MP’s were reluctant to oust the Prime Minister at a time when Labour is surging in the polls.
The Pound (GBP) plummeted against the other majors at the start of this week’s session as Theresa May looks to be in for troubling week, with a report that up to 40 Conservative MPs are preparing for a leadership challenge.
The PM also faces the possible collapse of Brexit negotiations, as the EU’s chief negotiator, Michel Barnier suggests that he is planning for such an event if the UK fails to meet his two-week deadline to clarify its position on key issues.
The Pound (GBP) initially tumbled against the majority of its peers yesterday as markets feared that the recent political instability in the UK would impede Brexit negotiations.
However sentiment improved again by the afternoon allowing Sterling to mount a reasonable recovery by the end of the European session.
The Pound may also push higher today with the release of the UK’s latest trade figures as economists forecast that Britain’s trade deficit will have narrowed in September.
The Pound (GBP) saw significant losses against the other majors on Wednesday as international development secretary Priti Patel resigned from her position following a number of undisclosed meetings with Israeli officials.
This is the second cabinet resignation within in a week after Sir Michael Fallon quit as defence secretary a few of days ago, prompting fears of instability at the top of government as Theresa May is forced to make another reshuffle.