FOREX TradingCharts.com

Forex News: Pound Slides Amid Risk Aversion

Pound Slides Amid Risk Aversion

06/27/2018 - 06:17:00 (RTTNews)

(RTTNews) - The pound declined against its major counterparts in early European deals on Wednesday, as European shares fell on rising fears over a global trade war.

Trade worries persist after the U.S. House of Representatives overwhelmingly passed a bill to tighten foreign investment rules amid concerns over China's unfair trade and intellectual property practices.

The U.S. is set to publish restrictions on foreign investment in U.S. technology companies on Friday.

Meanwhile, China will assess the potential impact of the expected U.S. investment restrictions on Chinese companies, the Commerce ministry said in a brief statement.

Data from Nationwide Building Society showed that UK house prices increased at a slower pace in June.

House prices grew 2 percent year-on-year in June, following May's 2.4 percent increase. Nonetheless, the pace of increase was faster than the expected 1.7 percent.

The currency traded mixed against its major counterparts in the Asian session. While it fell against the euro and the yen, it held steady against the greenback and the franc.

The pound dropped to 2-day lows of 1.3066 against the Swiss franc and 144.81 against the yen, from yesterday's closing values of 1.3096 and 145.46, respectively. If the pound falls further, 1.29 and 143.00 are likely seen as its next support levels against the franc and the yen, respectively.

The U.K. currency that closed Tuesday's trading at 1.3218 against the greenback and 0.8808 against the euro declined to a 6-day low of 1.3189 and more than 2-week low of 0.8827, respectively. The next likely support for the pound is seen around 1.30 against the greenback and 0.90 against the euro.

Looking ahead, U.S. durable goods orders and wholesale inventories for May are scheduled for release in the New York session.

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 Little Changed Ahead Of Powell Testimony (30 min(s), 57 sec(s) ago)
(RTTNews) - The dollar is slightly lower against all of its major rivals Monday afternoon, but rem ...Full Story»

U.S. Dollar Falls After Soft China Data; Powell's Testimony Awaited (27 min(s), 57 sec(s) ago)
(RTTNews) - The U.S. dollar slipped against its major counterparts in the European session on Mond ...Full Story»

Dollar Mixed After U.S. Retail Sales (15 min(s), 57 sec(s) ago)
(RTTNews) - Following the release of U.S. retail sales for June at 8.30 am ET Monday, the greenbac ...Full Story»

Dollar Falls Ahead Of U.S. Retail Sales (09 min(s), 58 sec(s) ago)
(RTTNews) - The Commerce Department's Retail Sales for June will be published at 8.30 am ET Mo ...Full Story»

Pound Higher Against Majors (57 min(s), 57 sec(s) ago)
(RTTNews) - The pound climbed against its major counterparts in the European session on Monday, in ...Full Story»

Yen Falls Against Most Majors (33 min(s), 57 sec(s) ago)
(RTTNews) - The Japanese yen slipped against its most major counterparts in early European deals o ...Full Story»

Euro Little Changed After Eurozone Trade Data (45 min(s), 57 sec(s) ago)
(RTTNews) - Eurostat has released Eurozone trade data for May at 5:00 am ET Monday. After th ...Full Story»

Euro Mixed Ahead Of Eurozone Trade Data (36 min(s), 57 sec(s) ago)
(RTTNews) - Eurostat releases Eurozone trade data for May at 5:00 am ET Monday. Ahead of the ...Full Story»

Search

FOREX NEWS

Dollar Little Changed Ahead Of Powell Testimony

07/16/2018 - 14:50 PM (RTTNews)
(RTTNews) - The dollar is slightly lower against all of its major rivals Monday afternoon, but rem ...Full Story>>

U.S. Dollar Falls After Soft China Data; Powell's Testimony Awaited

07/16/2018 - 09:47 AM (RTTNews)
(RTTNews) - The U.S. dollar slipped against its major counterparts in the European session on Mond ...Full Story>>

Dollar Mixed After U.S. Retail Sales

07/16/2018 - 08:34 AM (RTTNews)
(RTTNews) - Following the release of U.S. retail sales for June at 8.30 am ET Monday, the greenbac ...Full Story>>

Dollar Falls Ahead Of U.S. Retail Sales

07/16/2018 - 08:27 AM (RTTNews)
(RTTNews) - The Commerce Department's Retail Sales for June will be published at 8.30 am ET Mo ...Full Story>>

Pound Higher Against Majors

07/16/2018 - 07:16 AM (RTTNews)
(RTTNews) - The pound climbed against its major counterparts in the European session on Monday, in ...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.