Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/GBP: the battle is on
Information is not investment advice
Performance in 2020: -1.7%
Last day range: 0.8296 – 0.8388
52-week range: 0.8276 – 0.9324
EUR/GBP is falling. Why? Mainly, for the same reason, the EUR/USD is falling. During our analysis, we saw that there are multiple reasons for the USD to get stronger and none for the EUR. Almost the same applies to the EUR/GBP. Although we cannot state that the British economy has been doing as great as the American, the GBP has more ground to gain value. At least, for now.
No, there is always something you can point to. Especially, in a case of such a fall like that with the EUR/GBP. Recently, Boris Johnson’s conditions on the Chancellor of the Exchequer Sajid Javid made the latter resign. Some see that as a result of the mismatch between the government spending and investment restrictions, others see a more personal element in that opposition while the British Prime Minister seeks to have maximum control possible, now over Treasury. In any case, the GBP received this news as something promising, probably betting on Johnson’s strong views on bolstering the British economy and optimism about Brexit.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?