Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - U.S. Dollar Rallies; Sterling Slumps on Brexit Worries

Published 09/21/2018, 11:47 AM
Updated 09/21/2018, 11:47 AM
© Reuters. The U.S. dollar rallied on Friday.

© Reuters. The U.S. dollar rallied on Friday.

Investing.com - The U.S. dollar rallied against other currencies on Friday, while the pound continued to fall amid Brexit woes.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.40% to 93.84 as of 11:46 AM ET (15:46 GMT).

Earlier in the week China said it will impose new tariffs on U.S. goods worth $60 billion, effective Sept. 24. The new tariffs are in response to U.S. tariffs on Monday of 10% on $200 billion in Chinese goods, which will go up to 25% at the end of the year.

Elsewhere, the dollar rose against the safe-haven yen, with USD/JPY up 0.11% to 112.60 despite Japan’s inflation data coming in at an unexpected seven-month high.

Sterling fell to an intraday low after Prime Minister Theresa May said that the UK and European Union were at an impasse in Brexit negotiations, bringing fresh fears of a no-deal Brexit. May said talks stalled after the EU rejected the UK’s proposals without offering an alternative.

EU countries and the UK Parliament must approve any agreement prior to the March 29 official exit date.

GBP/USD fell 1.43% to 1.3071.

EUR/USD dipped 0.29% to 1.1742 due to a higher dollar and data that showed the eurozone manufacturing PMI came in lower than expected.

The Australian dollar was lower, with AUD/USD down 0.16% to 0.7280. Meanwhile NZD/USD jumped 1.04% to 0.6679 after Moody's reaffirmed the country’s AAA rating.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.