FX MARKET REPORT 23.12.2020

FX MARKET REPORT 23.12.2020

FX MARKET REPORT 23.12.2020

Daily Commentary
FX MARKET REPORT 23.12.2020
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FX MARKET REPORT 23.12.2020

The GBP/USD pair refreshed daily tops, around the 1.3415 region in the last, albeit quickly retreated few pips thereafter. The pair was last seen trading near the 1.3440-45 region, up around 0.50% for the day. The pair built on the overnight late rebound from the vicinity of the 1.3300 mark and gained some strong follow-through traction through the first half of the trading action on Wednesday. Despite the lack of progress in Brexit negotiations, investors remain hopeful about the possibility of a last-minute EU-UK deal. This was seen as one of the key factors lending some support to the British pound.  The Bank of England (BOE) must keep a close eye on the inflation expectations as the Kingdom could find it difficult to manage its debt burden after the coronavirus pandemic, Chief Economist Andy Haldane said.  EUR/USD consolidates the Asian bounce ahead of the European open, as the US dollar holds the lower ground amid mixed market sentiment. The sentiment remains cautiously optimistic, with markets eagerly awaiting a Brexit trade deal breakthrough while on the other hand, US President obstructed a $900 billion COVID stimulus, calling the bill as a disgrace. The dollar index was down 0.23% to 90.338. The USD/JPY pair edged down 0.16% to 103.47. The AUD/USD pair gained 0.43% to 0.7553.

The GBP/USD pair refreshed daily tops, around the 1.3415 region in the last, albeit quickly retreated few pips thereafter. The pair was last seen trading near the 1.3440-45 region, up around 0.50% for the day. The pair built on the overnight late rebound from the vicinity of the 1.3300 mark and gained some strong follow-through…

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