The UK pound is rising against the US dollar, enjoying gains not seen for more than a week. The latest interest rate decision by the Bank of England is to keep it the same. Additionally, the Bank of England is going to keep its debt-purchase program on hold for now.
US dollar index is gaining today, inching a bit higher. Previously, the US dollar index was struggling as the euro came off three-week lows to post some gains. However, those gains have been overwhelmed, and the US dollar is higher.
Euro is off a three-week low today as Forex traders switch to wait and see mode with regard to the Greek bond deal, and with regard to the global economy. Euro has stabilized and is even slightly higher against the other majors.
UK pound is declining against the US dollar today, thanks to general risk aversion weighing on high beta currencies, as well as disappointing economic data out of Great Britain.
Uncertainty is growing in global markets, and that is prompting risk aversion. The US dollar is higher in response, sought as a safe haven.
Japanese yen is gaining against its major counterparts today, rising as Forex traders seek some sort of safe haven and stability in the wake of the latest news out of China. Concerns about global growth are very real, and yen is also getting a boost as concerns about the economic growth in other regions are in doubt.
In earlier trading, UK pound fell against the US dollar on Greek worries and the expectation of poor PMI data. Now, though, things are turning around and the sterling has the upper hand.
Euro is heading lower — again — on the Forex market today. Concerns about the eurozone are weighing on the 17-nation currency, and general risk appetite is causing traders to favor the US dollar today.
Risk aversion is helping the US dollar today in Forex trading, providing a boost as concerns about the eurozone once again become prominent in the financial markets. Forex traders are looking for some safety and stability, and they are turning to the greenback to get it
Right now, Forex traders are looking for yields as better economic data takes center stage. Aussie has overcome earlier losses to trade high against most major currencies.
