Currencies Brief – 29th August 2017

Pound Gains

Political tensions in North Korea helped pound to make gains against the riskier currencies. The full article can be read in this link - https://www.currenciesdirect.com/en/news/currency-news/sterling-mixed-on-bank-holiday-ahead-of-fresh-brex

Pound sterling rose to two week high against dollar after escalating tensions in North Korea. The full article can be read in this link - http://uk.reuters.com/article/uk-britain-sterling-idUKKCN1B20TE

Dollar drops

Dollar dropped to 4 month’s low against Yen after North Korea fired a missile that passed over northern Japan. The full article can be read in this link - https://www.reuters.com/article/uk-global-forex-idUSKCN1B70XZ

Euro Gains

“Risk sentiment has taken a beating on the North Korea jitters and weak equity markets with the only exception being the euro, as the uptrend momentum seems to be behind the single currency,” said Stephen Gallo, European Head of FX Strategy at BMO Financial Group in London. The full article can be read in this link - http://uk.reuters.com/article/us-global-forex-idUKKCN1B82GC

Euro rose to the strongest levels in more than two years after North Korea fired a missile over Japan. The currency is now trading above the psychological $1.2000 level for the first time since January 2015. The full article can be read in this link - https://www.bloomberg.com/news/articles/2017-08-29/euro-climbs-above-1-20-for-first-time-in-more-than-two-years

Yuan Gains

Chinese currency yuan strengthened against dollar both offshore and onshore markets. The full article can be read in this link - http://uk.reuters.com/article/uk-china-yuan-midday-idUKKCN1AX0CA

Rupee down

The rupee opened 4 paise down against US dollar on account of buying of the currency by banks and exporters. The full article can be read in this link - http://economictimes.indiatimes.com/markets/forex/rupee-opens-4-paise-lower-against-us-dollar-at-63-95/articleshow/60270884.cms

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