US Dollar Broadly Stronger, Unable to Beat UK Pound

The US dollar was broadly stronger against its most-traded counterparts today as disappointing news from China damped risk appetite among Forex traders. Saying that, the greenback was not able to beat all the major rivals, falling a little against the Great Britain pound.

China’s macroeconomic releases were in the spotlight during the Monday’s trading session. While nation’s economic growth was not as slow as analysts had predicted, the data was considered to disappointing by the majority of traders. As a result, the FX market has shifted into the risk-negative mode.

Safe currencies, like the dollar and the yen, profited from the change in the market sentiment, rallying during the Monday’s session. Yet the sterling showed surprising resilience against both the greenback and the Japanese currency. Perhaps, market participants believe that this week’s comments from UK policy makers (including Mark Carney, Bank of England Governor) will be hawkish enough to bolster the pound.

EUR/USD edged down from 1.1356 to 1.1330 as of 22:24 GMT today. USD/JPY bounced from the daily low of 119.13, trading at 119.47 — above the opening of 119.38. Meanwhile, GBP/USD was up from 1.5439 to 1.5466, though the currency pair traded noticeably lower its daily maximum of 1.5496.

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