FOREX TradingCharts.com

Forex News: Pound Climbs Amid Risk Appetite On Fed Stimulus

Pound Climbs Amid Risk Appetite On Fed Stimulus

03/24/2020 - 07:17:00 (RTTNews)

(RTTNews) - The pound strengthened against its major counterparts in the European session on Tuesday, as the Federal Reserve's unlimited quantitative easing and aggressive asset-buying from the Bank of Japan boosted risk sentiment.

Italy reported smaller increase in coronavirus cases for the second day running and the head of Germany's public health institute said the upward trend in the number of COVID-19 cases was levelling off, helping investor sentiment recover.

Investor sentiment improved after the U.S. Federal Reserve announced extensive new measures, including an unlimited expansion of its asset purchases, to support the world's largest economy during the coronavirus pandemic.

British Prime Minister Boris Johnson called the virus the "biggest threat this country has faced for decades" as the country goes into effective lockdown to deal with the threat of the pandemic.

Survey results from IHS Markit and Chartered Institute of Procurement & Supply showed that the UK private sector logged its record decline in business activity in March amid emergency public health measures to contain the spread of coronavirus.

The flash IHS Markit/Chartered Institute of Procurement & Supply composite output index fell to a record 37.1 in March from 53.0 in February. The reading was also below the forecast of 45.1.

The pound appreciated to 4-day highs of 1.1784 against the greenback and 130.24 against the yen, after falling to 1.1476 and 127.73, respectively in early deals. Immediate resistance for the pound is seen around 1.25 against the greenback and 135.00 against the yen.

The pound moved up to 0.9221 against the euro and 1.1478 against the franc, from its early lows of 0.9324 and 1.1335, respectively. The pound is poised to test resistance around 0.88 against the euro and 1.25 against the franc.

Looking ahead, U.S. new home sales for February are scheduled for release in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Canadian Dollar Mixed After BoC Surprise Rate Cut (02 hr(s), 40 min(s) ago)
(RTTNews) - The Canadian dollar showed mixed trading against its major counterparts in the Europea ...Full Story»

Dollar Slightly Down After U.S. Consumer Sentiment Index (03 hr(s), 30 min(s), 59 sec(s) ago)
(RTTNews) - The Michigan University's Consumer Sentiment report for March has been published a ...Full Story»

Dollar Mixed Ahead Of U.S. Consumer Sentiment Index (03 hr(s), 37 min(s) ago)
(RTTNews) - The Michigan University's Consumer Sentiment report for March will be published at ...Full Story»

Dollar Little Changed After U.S. Personal Income & Spending Data (04 hr(s), 58 min(s) ago)
(RTTNews) - The U.S. personal income and spending data for February has been released at 8:30 am E ...Full Story»

Dollar Steady Ahead Of U.S. Personal Income & Spending Data (05 hr(s), 06 min(s), 59 sec(s) ago)
(RTTNews) - The U.S. personal income and spending data for February will be released at 8:30 am ET ...Full Story»

Euro Drops Amid Recession Fears (05 hr(s), 24 min(s), 59 sec(s) ago)
(RTTNews) - The euro slipped against its major counterparts in the European session on Friday, as ...Full Story»

Australian Dollar Higher Amid Rising Risk Appetite (10 hr(s), 10 min(s) ago)
(RTTNews) - The Australian dollar strengthened against its major counterparts in the Asian session ...Full Story»

Indian Rupee Appreciates To 1-week High Versus U.S. Dollar After RBI Rate Cut (11 hr(s), 04 min(s) ago)
(RTTNews) - The Indian rupee drifted higher against the U.S. dollar in morning deals on Friday, af ...Full Story»

Search

FOREX NEWS

Canadian Dollar Mixed After BoC Surprise Rate Cut

03/27/2020 - 10:51 AM (RTTNews)
(RTTNews) - The Canadian dollar showed mixed trading against its major counterparts in the Europea ...Full Story>>

Dollar Slightly Down After U.S. Consumer Sentiment Index

03/27/2020 - 10:02 AM (RTTNews)
(RTTNews) - The Michigan University's Consumer Sentiment report for March has been published a ...Full Story>>

Dollar Mixed Ahead Of U.S. Consumer Sentiment Index

03/27/2020 - 09:55 AM (RTTNews)
(RTTNews) - The Michigan University's Consumer Sentiment report for March will be published at ...Full Story>>

Dollar Little Changed After U.S. Personal Income & Spending Data

03/27/2020 - 08:33 AM (RTTNews)
(RTTNews) - The U.S. personal income and spending data for February has been released at 8:30 am E ...Full Story>>

Dollar Steady Ahead Of U.S. Personal Income & Spending Data

03/27/2020 - 08:24 AM (RTTNews)
(RTTNews) - The U.S. personal income and spending data for February will be released at 8:30 am ET ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.