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Sterling posts largest daily jump against Euro since March

Economies.com
2019-10-11 19:02PM UTC

The British pound surged against most major during trading sessions today, as speculations mounted about a near Brexit deal.

 

Investors' risk appetite increased today after the US and China announced they reached a partial trade agreement.

 

British Prime Minister Boris Johnson stated that despite a final deal with Brussels hasn't been reached yet, but progress is being made.

 

Johnson added that a flexible Brexit deal will benefit not only London but all parties involved.

 

Irish PM Leo Varadkar and Johnson have said yesterday that a deal can be reached that could allow Britain to leave the European Union in an orderly fashion.

 

As of 19:00 GMT, GBP/USD rose by 1.7% to $1.2659, with an intraday high of $1.2706 and a low of $1.241.

 

GBP/EUR also rose by 1.4% to 1.1466, with a high of 1.15 and a low of 1.127.

Dollar drops as stocks surge amid trade optimism

Economies.com
2019-10-11 18:08PM UTC

The US dollar fell against most of major currencies today, as investors' risk appetite improved and demand surged on stocks, to shift away from precious metals and US dollar.

 

Which comes amid high market sentiment over the US-China trade talks, after the 2-day round of high-level talks between.

 

Bloomberg quoted sources that the US and China reached a partial trade agreement today, under which China will buy more US agricultural products and the US ease the tariffs. 

 

The partial deal is temporary in preparation for a final agreement between Washington and Beijing that could include of trade war and the removal of tariffs and the lift of the restrictions on Huawei.

 

Otherwise, the US Federal Reserve announced today a plan to purchase short-term treasury bills worth $60 billion a month until the second quarter of 2020 and will expand repo operations until January, to ease funding pressures on the US banking system.

 

As of 17:57 GMT, the dollar index fell against a basket of currencies by 0.4% to 98.2 points, with an intraday high of 98.7 and a low of 98.2 points.

US oil rigs count rises this week

Economies.com
2019-10-11 17:24PM UTC

Baker Hughes announced today that the US oil drilling rigs count increased by 2 rigs to 712 during this week.

 

While the natural gas rigs fell by 1 to 143 rigs, with the total of oil and gas rigs rising by 1 to 856.

Oil extends gains as Brent jumps back above $60

Economies.com
2019-10-11 17:05PM UTC

Oil prices advanced today, to extend gains buoyed by the high sentiment about the trade talks between the US and China, while the US dollar shapely fell against most major currencies.

 

Later today, Baker Hughes will release its data on the US oil and gas drilling activity during this week.

 

The Iranian government revealed today that one of its oil tankers was struck by two missiles in the Red Sea near the coast of Saudi Arabia,

 

As of 16:51 GMT, the dollar index fell by 0.4% to 98.2 points, with an intraday high of 98.7 and a low of 98.2 points.

 

While WTI futures for November delivery rose by 1.6% to $54.3 a barrel, with a session-high of $54.8 and a low of $53.6.

 

Brent futures for December delivery gained 1.8% to $60.2 a barrel, with a high of $60.6 and a low of $59.2.

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What is the price of EUR/GBP today?

The price of EUR/GBP is $0.8619 (2025-07-09 06:55AM UTC)