FOREX TradingCharts.com

Forex News: Pound Falls As U.K., France Clash Over Fishing

Pound Falls As U.K., France Clash Over Fishing Rights Escalate

11/01/2021 - 08:11:00 (RTTNews)

(RTTNews) - The pound depreciated against its major counterparts in the European session on Monday, as the row between the U.K. and France over a post-Brexit fishing rights intensified, with both sides exchanging threats over operations in British waters.

Foreign Secretary Liz Truss said that the UK will not back down following "unreasonable" threats from French President Emmanuel Macron over access to the port.

Truss said that the UK will invoke dispute resolution measures in the Brexit trade deal to avail "compensatory measures," if Macron administration escalates its threats.

Macron on Sunday warned that France will bar U.K. fishing boats from its ports and intensify checks on the U.K. exports from Tuesday, unless the country grants more permits for French boats to resolve the dispute.

U.K. Prime Minister Boris Johnson said that his position has not changed, adding that he was confused to read a letter from the French PM explicitly demanding Britain to be punished for leaving the EU.

Final data from IHS Markit showed that the UK manufacturing activity growth improved in October for the first time in five months but output expanded at slower pace due to rising supply chain disruption, staff shortages and falling foreign demand.

The Chartered Institute of Procurement & Supply manufacturing final Purchasing Managers' Index rose to 57.8 in October from 57.1 in September. The flash reading was 57.7.

The pound fell to more than a 2-week low of 0.8479 against the euro and nearly a 3-week low of 1.3642 against the greenback, off its early highs of 0.8437 and 1.3691, respectively. The pound is seen facing support around 0.86 against the euro and 1.34 against the greenback.

The pound depreciated to more than a 2-month low of 1.2472 against the franc, from a high of 1.2545 seen at 11:30 pm ET. The pound is likely to challenge support around the 1.22 mark.

Reversing from an early high of 156.49 against the yen, the pound edged down to 155.81. On the downside, 153.00 is possibly seen as the next support level for the currency.

The latest survey from Jibun Bank showed that Japan's manufacturing sector continued to expand in October, and at a faster pace, with a Manufacturing PMI score of 53.2.

That's up from 51.5 in September and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Looking ahead, U.S. ISM manufacturing PMI for October and construction spending for September are due in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Little Changed After U.S. Weekly Jobless Claims (03 min(s), 26 sec(s) ago)
(RTTNews) - The U.S. weekly jobless claims for the week ended December 4 have been released at 8:3 ...Full Story»

Dollar Mixed Ahead Of U.S. Weekly Jobless Claims (12 min(s), 27 sec(s) ago)
(RTTNews) - The U.S. weekly jobless claims for the week ended December 4 are due at 8:30 am ET Thu ...Full Story»

Euro Drops As ECB Policymakers Reportedly Mulling APP Increase (45 min(s), 27 sec(s) ago)
(RTTNews) - The euro fell against its major opponents in the European session on Thursday, followi ...Full Story»

Australian Dollar Advances On Improved Risk Sentiment (06 hr(s), 15 min(s), 27 sec(s) ago)
(RTTNews) - The Australian dollar firmed against its major counterparts in the Asian session on Th ...Full Story»

Pound Falls In Cautious Trade (39 min(s), 26 sec(s) ago)
(RTTNews) - The pound weakened against its major counterparts in the European session on Wednesday ...Full Story»

Australian, NZ Dollars Higher Amid Omicron Optimism (05 hr(s), 36 min(s), 27 sec(s) ago)
(RTTNews) - The Australian and NZ dollars firmed against their most major counterparts in the Asia ...Full Story»

Indian Rupee Declines To Near 2-month Low Against U.S. Dollar After RBI Decision (07 hr(s), 42 min(s), 27 sec(s) ago)
(RTTNews) - The Indian rupee lost ground against the U.S. dollar in late morning deals on Wednesda ...Full Story»

Euro Little Changed After German ZEW Economic Sentiment Index (03 hr(s), 33 min(s), 27 sec(s) ago)
(RTTNews) - German ZEW economic sentiment index for December, Eurozone GDP and employment data for ...Full Story»

Search

FOREX NEWS

Dollar Little Changed After U.S. Weekly Jobless Claims

12/09/2021 - 08:33 AM (RTTNews)
(RTTNews) - The U.S. weekly jobless claims for the week ended December 4 have been released at 8:3 ...Full Story>>

Dollar Mixed Ahead Of U.S. Weekly Jobless Claims

12/09/2021 - 08:26 AM (RTTNews)
(RTTNews) - The U.S. weekly jobless claims for the week ended December 4 are due at 8:30 am ET Thu ...Full Story>>

Euro Drops As ECB Policymakers Reportedly Mulling APP Increase

12/09/2021 - 07:51 AM (RTTNews)
(RTTNews) - The euro fell against its major opponents in the European session on Thursday, followi ...Full Story>>

Australian Dollar Advances On Improved Risk Sentiment

12/09/2021 - 02:22 AM (RTTNews)
(RTTNews) - The Australian dollar firmed against its major counterparts in the Asian session on Th ...Full Story>>

Pound Falls In Cautious Trade

12/08/2021 - 07:58 AM (RTTNews)
(RTTNews) - The pound weakened against its major counterparts in the European session on Wednesday ...Full Story>>

Do not sell my personal information

Copyright © 2021. 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.