FOREX TradingCharts.com

Forex News: Pound Drops Amid Risk Aversion

Pound Drops Amid Risk Aversion

11/09/2022 - 06:33:00 (RTTNews)

(RTTNews) - The pound weakened against its major counterparts in the European session on Wednesday amid risk aversion, as investors awaited the outcome of the U.S. midterm elections and inflation data.

Early results suggested the chance of Republicans attaining a majority in the U.S. House of Representatives.

The Associated Press reported that Republicans are leading in the tightly contested race to the Senate.

Such an outcome would lead to a split government and trigger political instability.

U.S. consumer inflation data is due on Thursday, which could shed more clues on the Fed's monetary policy tightening stance.

The pound touched 2-day lows of 1.1419 against the greenback and 166.50 against the yen, from its early highs of 1.1567 and 168.32, respectively. Next key support for the pound is likely seen around 1.11 against the greenback and 163.00 against the yen.

The pound reversed from its early highs of 1.1392 against the franc and 0.8715 against the euro and fell to a 5-day low of 1.1253 and a 4-week low of 0.8797, respectively. The currency may challenge support around 1.09 against the franc and 0.90 against the euro.

Looking ahead, U.S. wholesale inventories for September are due in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Swiss Franc Advances On Risk Aversion (06 hr(s), 26 min(s), 37 sec(s) ago)
(RTTNews) - The Swiss franc climbed against its most major counterparts in the European session on ...Full Story»

U.S. Dollar Dips As Fed Chair Powell Hints At Smaller Rate Hikes (02 hr(s), 29 min(s), 37 sec(s) ago)
(RTTNews) - The U.S. dollar weakened against its major rivals in the European session on Thursday, ...Full Story»

Australian Dollar Advances On Fed Powell's Less Hawkish Comments (07 hr(s), 20 min(s), 37 sec(s) ago)
(RTTNews) - The Australian dollar climbed against its most major counterparts in the Asian session ...Full Story»

U.S. Dollar Down Amid Soft ADP Data; Powell's Speech In Focus (20 min(s), 37 sec(s) ago)
(RTTNews) - The U.S. dollar was lower against its most major opponents in the European session on ...Full Story»

Dollar Drops Following ADP Data (02 hr(s), 29 min(s), 37 sec(s) ago)
(RTTNews) - U.S. ADP private payrolls data for November has been released at 8:15 am ET Wednesday. ...Full Story»

Dollar Mixed Ahead Of ADP Data (02 hr(s), 38 min(s), 37 sec(s) ago)
(RTTNews) - U.S. ADP private payrolls data for November is scheduled for release at 8:15 am ET Wed ...Full Story»

NZ Dollar Advances Amid Rising Risk Appetite (06 hr(s), 05 min(s), 36 sec(s) ago)
(RTTNews) - The NZ dollar climbed against its major counterparts in the Asian session on Wednesday ...Full Story»

Swiss Franc Weakens On China Reopening Hopes (02 min(s), 37 sec(s) ago)
(RTTNews) - The Swiss franc declined against its key counterparts in the European session on Tuesd ...Full Story»

Search

FOREX NEWS

Swiss Franc Advances On Risk Aversion

12/02/2022 - 04:21 AM (RTTNews)
(RTTNews) - The Swiss franc climbed against its most major counterparts in the European session on ...Full Story>>

U.S. Dollar Dips As Fed Chair Powell Hints At Smaller Rate Hikes

12/01/2022 - 08:18 AM (RTTNews)
(RTTNews) - The U.S. dollar weakened against its major rivals in the European session on Thursday, ...Full Story>>

Australian Dollar Advances On Fed Powell's Less Hawkish Comments

12/01/2022 - 03:29 AM (RTTNews)
(RTTNews) - The Australian dollar climbed against its most major counterparts in the Asian session ...Full Story>>

U.S. Dollar Down Amid Soft ADP Data; Powell's Speech In Focus

11/30/2022 - 10:27 AM (RTTNews)
(RTTNews) - The U.S. dollar was lower against its most major opponents in the European session on ...Full Story>>

Dollar Drops Following ADP Data

11/30/2022 - 08:19 AM (RTTNews)
(RTTNews) - U.S. ADP private payrolls data for November has been released at 8:15 am ET Wednesday. ...Full Story>>

Do not sell my personal information

Copyright © 2022. 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.