Sterling loses ground against dollar

Economies.com
2017-11-07 17:49PM UTC

Sterling tilted lower against the dollar in American trade, following a basket of data from Britain and the US, the world's largest economy, while markets await speeches by Federal Reserve Governor Randal Quarles and Chair Janet Yellen. 

 

As of 06:29 GMT, GBP/USD declined 0.14% to 1.3153 from the opening of 1.3171, with an intraday low at 1.3109, and a high at 1.3178. 

 

Earlier UK data showed the Halifax House Price Index slowed down to 0.3% from 0.8% in September, beating expectations of 0.2%, while the British Brexit minister Stephen Baker said in earlier remarks that the government will need three weeks to release 58 studies on the ramifications of Brexit on the economy. 

 

Baker said the analyses were being updated and developed to reach a solid body of evaluations towards Brexit across many sections, noting the government will take some time to gather the information and pass it the Parliament. 

 

Earlier US data showed JOLTS Job Openings steadied at 6.09 million in September, same as August's reading, while analysts expected a dip to 5.98 million.

 

Otherwise, Federal Reserve Governor Randal Quarles is due to speak at The Clearing House Annual Conference, in New York, while Federal Reserve Chair Janet Yellen is due to deliver acceptance remarks at the presentation of the Paul H. Douglas Award for Ethics in Government, in Washington DC

Forex and Currency News

Forex News

Forex

Dollar hovers near six-week high ahead of consumer spending data, Powell's remarks
2024-03-29 11:28AM UTC
Dollar Strengthens Amid Declining Rate Cut Odds The dollar rose in European trade on Friday ...
EUR/USD news

Forex

Euro declines to five-week trough amid thin trading
2024-03-29 08:19AM UTC
Euro Decline Amid Holiday Thin Trading Euro declined in European trade on Friday against a basket ...
Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...

Forex Technical Analysis

Technical Analysis

Forex

The NZDCAD moves to the bearish track – Forecast today – 29-3-2024
2024-03-29 06:18AM UTC
NZDCAD Pair Forecast for Today - 29-3-2024 The NZDCAD pair surrendered to the negative ...
EUR JPY Analysis

Forex

The EURJPY declines below the support – Forecast today – 29-3-2024
2024-03-29 06:13AM UTC
EURJPY Pair Forecast for Today - 29-3-2024 The EURJPY pair surrendered to the negative ...
GBP JPY Analysis

Forex

The GBPJPY has to decline – Forecast today – 29-3-2024
2024-03-29 06:12AM UTC
GBPJPY Pair Forecast for Today - 29-3-2024 The GBPJPY pair still confined with many negative ...