Yesterday’s high: $1.3020
Yesterday’s low: $1.2972
Trump Comments Cause US Dollar Movement
Yesterday saw anxiety among currency traders rise as they were confronted with an escalation of the conflict between the United States and North Korea. The US Dollar gradually advanced on the Pound during the day as demand for safe-haven currencies increased. Donald Trump promised swift retaliation against North Korean nuclear aggression, the regime government broadcasted a plan to attack the US Pacific territory of Guam.
USD Outlook: Fed Speeches and Inflation Stats Ahead
Today could see the US Dollar weaken against the Pound if Federal Reserve official William Dudley gives a cautious speech. Dudley will be speaking this afternoon but is considered to be a dovish policymaker. On Friday, the US Dollar could appreciate if inflation has risen in July.
GBP/USD could also fluctuate in response to today’s national trade balance and production data. A deficit expansion is forecast, but the Pound may still rise if higher production levels are reported.
09:30 UK Trade Balance
09:30 UK Industrial and Manufacturing Production
15:00 US Fed Dudley Speech
13:30 US Inflation Rate
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Senior Currency Broker
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