Pound Higher Against Majors
16 Luglio 2018 - 09:16AM
RTTF2
The pound climbed against its major counterparts in the European
session on Monday, in reaction to comments from U.S. President
Donald Trump, who indicated readiness to strike a deal with the
U.K., if the latter finalizes its exit from the European Union.
In an interview with the Mail on Sunday, Trump said suggested
that there could be a "great" trade deal between the US and UK
after Brexit.
"We would make a great deal with the United Kingdom because they
have product that we like. I mean they have a lot of great product.
They make phenomenal things, you know."
European shares were mixed, as a raft of Chinese data proved to
be a mixed bag. Amid lack of triggers, investors looked ahead to
Federal Reserve Chairman Jerome Powell's semi-annual congressional
testimonies as well as U.S. President Donald Trump's highly
anticipated meeting with Russian President Vladimir Putin for
further direction.
Data from property tracking website Rightmove showed that the
average asking price for a house in the United Kingdom was down 0.1
percent on month in July, coming in at 309,191 pounds.
On a yearly basis, house prices were up 1.4 percent - slowing
from 1.7 percent in the previous month.
The currency traded mixed against its major rivals in the Asian
session. While it rose against the yen and the greenback, it held
steady against the euro and the franc.
The pound advanced to 1.3267 against the franc, its strongest
since June 15. The pound is seen finding resistance around the 1.34
level.
The U.K. currency that closed Friday's trading at 148.64 against
the yen appreciated to near a 2-month high of 149.19. The next
possible resistance for the pound is seen around the 151.00
level.
Reversing from an early low of 1.3225 against the greenback, the
pound climbed to a 5-day high of 1.3274. If the pound continues its
rise, 1.34 is possibly seen as its next resistance level.
The pound climbed to a 4-day high of 0.8821 against the euro,
after having fallen to 0.8837 at 2:15 am ET. The pound is likely to
find resistance around the 0.87 level.
Looking ahead, U.S. retail sales for June, business inventories
for May, New York Fed's empire manufacturing data for July and
Canada existing home sales for June are due in the New York
session.
Grafico Cross Sterling vs Yen (FX:GBPJPY)
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