FX MARKET REPORT 30.11.2020

FX MARKET REPORT 30.11.2020

FX MARKET REPORT 30.11.2020

Daily Commentary
FX MARKET REPORT 30.11.2020
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FX MARKET REPORT 30.11.2020

The pound is feeling the pull of the gravity on the downbeat Brexit comments, with GBP/USD trading flat at 1.3316, as of writing. The spot erased all the gains and hit a daily low of 1.3306. If there is no agreement on fisheries, the whole (Brexit) thing could fall on the back of it,” Irish Foreign Minister Simon Coveney warned on Monday. “Fisheries is a more difficult issue than level playing field.” “The UK attempting to separate fisheries from other issues.” “We are not going to play that game.” EUR/USD reached near three-month highs early Monday, with the safe-haven dollar extending recent losses on continued expectations for a swift global economic recovery on potential coronavirus vaccines. The pair rose to 1.1974 during the Asian trading hours, the highest level since Sept. 1, having charted a bullish outside week candle in the five days to Nov. 27. EUR/USD looks set to end the month with at least 2% gains. The shared currency has remained better bid throughout the month despite the rising coronavirus cases across Eurozone and economically-painful lockdown restrictions in Germany and France. The dollar drifted lower in early European trade Monday, as lingering vaccine optimism and expectations of more Federal Reserve largesse see traders desert this safe haven. The U.S. dollar index, which tracks the greenback against a basket of six other currencies, was down 0.1% at 91.705, having fallen to its lowest level since April 2018 and set to record its largest monthly fall since July, down 2.5%. USD/JPY fell 0.1% to 104.03.

The pound is feeling the pull of the gravity on the downbeat Brexit comments, with GBP/USD trading flat at 1.3316, as of writing. The spot erased all the gains and hit a daily low of 1.3306. If there is no agreement on fisheries, the whole (Brexit) thing could fall on the back of it,” Irish…

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