Currencies Brief – 4th September 2017

Pound decreases against Euro but increases against dollar

An unexpectedly strong UK manufacturing PMI for August helped to boost the pound says Currencies Direct, the UK based foreign exchange broker. The full article can be read in this link - https://www.currenciesdirect.com/en/news/currency-news/pound-boosted-by-strong-manufacturing-data-and-us

Pound sterling slipped half percentage against Euro on worries over North Korea. The full article can be read in this link - https://in.reuters.com/article/uk-britain-sterling/sterling-slips-against-euro-as-political-risks-weigh-idUSKCN1BF10Z

Pound sterling is posted for the fourth straight monthly decline against Euro and it had an advance against dollar. The full article can be read in this link - https://www.bloomberg.com/news/articles/2017-09-03/pound-s-summer-woes-set-to-continue-as-u-k-parliament-returns

Dollar in pressure

“The reaction in the markets is a classic risk-off reaction to the geopolitical events but a notable exception is the continued euro strength,” said Neil Jones, head of hedge fund sales at Mizuho Bank Ltd in London. The full article can be read in this link - https://in.reuters.com/article/uk-global-forex/dollar-struggles-on-north-korea-nuclear-tests-euro-shines-idUSKCN1BE183

Euro Shines

“The bigger story here is one of broad dollar weakness ... (and) it doesn’t look very positive for the greenback in the near term,” said Alvin Tan, an FX strategist at Societe Generale in London. The full article can be read in this link - https://www.reuters.com/article/global-forex/forex-euro-shines-on-broad-dollar-weakness-idUSL4N1LL3U1

Yuan Gains

Chinese currency yuan advanced further against dollar to the strongest levels in 15.5 months. The full article can be read in this link - http://www.businesstimes.com.sg/banking-finance/chinas-yuan-advances-on-us-dollar-to-hit-its-strongest-in-155-months

Rupee Gains

The rupee on Monday opened 8 paise up at 63.94 against dollar on account of selling of American currency by banks and exporters. The full article can be read in this link - http://economictimes.indiatimes.com/markets/forex/rupee-opens-8-paise-up-at-63-94-against-dollar/articleshow/60356436.cms

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