FX MARKET REPORT 05.10.2020

FX MARKET REPORT 05.10.2020

FX MARKET REPORT 05.10.2020

Daily Commentary
Daily Commentary
FX MARKET REPORT 05.10.2020
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FX MARKET REPORT 05.10.2020

The GBP/USD pair lifted above 1.2900 on headlines that the UK and EU will persist with Brexit negotiations, given the lack of material progress, we still see the 1.2950-1.3000 range as a cap for now. The optimism over US President Donald Trump’s potential discharge from the medical centre boosts the appetite for the risk assets at the expense of the safe-haven greenback. EUR/USD bulls await fresh impetus for the next leg up. Falling wedge breakout confirmed on the hourly chart. EUR bulls struggling to extend gains above 50-HMA at 1.1730. The dollar index was little changed at 93.789, while traders adjusted their positions in safe-harbour currencies. Against the safe-haven Japanese yen, the dollar rose 0.2% to 105.515 yen.

The GBP/USD pair lifted above 1.2900 on headlines that the UK and EU will persist with Brexit negotiations, given the lack of material progress, we still see the 1.2950-1.3000 range as a cap for now. The optimism over US President Donald Trump’s potential discharge from the medical centre boosts the appetite for the risk assets…

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