FOREX TradingCharts.com

Forex News: Dollar Soars Against British Pound After EU Leaders

Dollar Soars Against British Pound After EU Leaders Refuse Brexit Deal

09/21/2018 - 14:59:00 (RTTNews)

(RTTNews) - The dollar is up against all of its major rivals Friday afternoon, but its gains are much more substantial in comparison to the pound sterling.

EU leaders turned down Theresa May's Chequers blueprint at a summit in Salzburg, giving a major blow to her chances of reaching a deal post-Brexit.

Following their meeting on Thursday, European Council president Donald Tusk told that the leaders had unanimously agreed to refuse May's plans to stay in a single market for goods.

"Everybody shared the view that while there are positive elements in the Chequers proposal, the suggested element for economic cooperation will not work, not least because it risks undermining the single market," Tusk said.

May warned EU leaders that she would not make any more compromises and is prepared for a no deal position.

The buck has jumped to around $1.3075 against the pound sterling Friday afternoon, from an early low of $1.3276.

The UK budget deficit increased in August on higher expenditure amid subdued income growth, data from the Office for National Statistics showed Friday. Public sector net borrowing, excluding public sector banks, rose by GBP 2.4 billion from last year to GBP 6.8 billion in August. Borrowing was expected to fall to GBP 3.4 billion.

The dollar slid to an early low of $1.1802 against the Euro Friday, but has since rebounded to around $1.1745.

Eurozone private sector grew at the second-weakest pace since late-2016 as manufacturing growth was subdued by stagnating export orders, flash survey data from IHS Markit showed Friday. The composite output index fell to 54.2 in September, while the score was forecast to remain unchanged at 54.5.

Germany's private sector growth moderated from a six-month high in September, survey data from IHS Markit showed Friday.

The composite output index fell to 55.3 in September from a six-month high of 55.6 in August. Nonetheless, the latest reading was still the second-best seen since February. The expected reading was 55.4.

France's private sector growth fell to its lowest level in 21 months during September, amid weaker gains in both manufacturing and service sectors, survey data from IHS Markit showed Friday. The flash France Composite Output Index dropped to 53.6 from 54.9 in August, the purchasing managers' survey showed. The reading was lower than the 54.6 economists had expected.

France's economy grew at a steady pace, as previously estimated, in the second quarter, detailed figures from Insee showed Friday. Gross domestic product advanced 0.2 percent sequentially, the same rate as seen in the first quarter, and in line with the second estimate published on August 29.

The greenback rose to a 2-week high of Y112.873 against the Japanese Yen Friday morning, but has since eased back to around Y112.545.

Overall nationwide consumer prices in Japan were up 1.3 percent on year in August, the Ministry of Internal Affairs and Communications said on Friday. That exceeded expectations for 1.1 percent and was up from 0.9 percent in July.

The manufacturing sector in Japan continued to expand in September, and at an accelerated pace, the latest survey from Nikkei revealed on Friday with a manufacturing PMI score of 52.9. That's up from 52.5 in August, and it moved further above the boom-or-bust line of 50 that separates expansion from contraction.

Japan's all industry activity remained stable in July, figures from the Ministry of Economy, Trade and Industry showed Friday. The all industry activity index remained flat on month, following a 0.9 percent fall in June. Economists had forecast a marginal 0.1 percent rise.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Trading Mixed Ahead Of The Weekend (01 hr(s), 18 min(s), 47 sec(s) ago)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story»

Loonie Weakens After Disappointing Canada Inflation, Retail Sales Data (05 hr(s), 39 min(s), 47 sec(s) ago)
(RTTNews) - The Canadian dollar declined against its major counterparts in the European session on ...Full Story»

Loonie Falls After Canada Retail Sales, CPI (07 hr(s), 36 min(s), 47 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada has released Canada retail sales for August an ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales, CPI (07 hr(s), 39 min(s), 47 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada will release Canada retail sales for August an ...Full Story»

Euro Weakens After EC Warns Italy Over Budget Plan (10 hr(s), 27 min(s), 46 sec(s) ago)
(RTTNews) - The euro declined against its major counterparts in the early European session on Frid ...Full Story»

Pound Little Changed After U.K. Public Sector Finance Data (11 hr(s), 33 min(s), 47 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the Office for National Statistics has published public sector f ...Full Story»

Pound Mixed Ahead Of U.K. Public Sector Finance Data (11 hr(s), 39 min(s), 47 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the Office for National Statistics publishes public sector finan ...Full Story»

Australian, NZ Dollars Advance Against Majors (12 hr(s), 45 min(s), 47 sec(s) ago)
(RTTNews) - The Australian and New Zealand dollars climbed against their most major counterparts i ...Full Story»

Search

FOREX NEWS

Dollar Trading Mixed Ahead Of The Weekend

10/19/2018 - 14:49 PM (RTTNews)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story>>

Loonie Weakens After Disappointing Canada Inflation, Retail Sales Data

10/19/2018 - 10:27 AM (RTTNews)
(RTTNews) - The Canadian dollar declined against its major counterparts in the European session on ...Full Story>>

Loonie Falls After Canada Retail Sales, CPI

10/19/2018 - 08:32 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada has released Canada retail sales for August an ...Full Story>>

Loonie Mixed Ahead Of Canada Retail Sales, CPI

10/19/2018 - 08:28 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada will release Canada retail sales for August an ...Full Story>>

Euro Weakens After EC Warns Italy Over Budget Plan

10/19/2018 - 05:41 AM (RTTNews)
(RTTNews) - The euro declined against its major counterparts in the early European session on Frid ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.