EUR/USD: Trading in a narrow range as declining US yields
|Currencies
EUR/USD
EUR/USD trading in a narrow range as declining US yields and global uncertainties are keeping the dollar balanced.
EUR/GBP
Sterling under heavy siege as PM May pulled the crucial Brexit vote to avoid a humiliating defeat in Parliament. She seeks more EU concessions to convince MP’s.
USD/JPY trades surprisingly flat in a tight 112-114 range given the volatility uptick in global markets.
EUR/CZK
Weaker than expected Q3 GDP growth (2.4% YoY) and political uncertainty kept the Czech koruna near 2018 lows in November, despite 4 consecutive interest rate hikes.
EUR/HUF
EUR/HUF found higher ground following Orban’s election victory and during the emerging market turmoil but entered relatively calmer water afterwards. Mood swings in the pair are losing momentum.
EM Index
The basket of EM currency’s recovery stalls after a swift uptick in August. Global uncertainty and volatility keeps most EM in the defensive position.
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