Daily News | Pound uptick

We are in the middle of the global binary options trading week, with plenty of new and exciting news items helping to shape the currency market. We have compiled the most important ones so that you do not have. We start this Wednesday with the British pound sterling. From Monday to Tuesday, the GBP experienced an uptick from $1.2185 to $1.2285. This change came about in large part because suggestions have been made that the UK parliament would have to ratify any deal that would have Britain leave the European Union. Consequently, the country’s FTSE 100 index also rose 1.2%. Data also showed that annual consumer price inflation surged to 1.0% from 0.6% in August, the biggest jump in two years. We will have to see if this uptick will be able to counterbalance the negative aspects of the Brexit in the future. We now turn to the US dollar. In the same timeframe, the USD rose from €0.9092 to €0.9107. This rise could be attributed to the fact that Wall Street rallied on strong corporate earnings reports. The quarterly reports were better than expected, which helped investor sentiment. In fact, all  major S&P 500 sectors experienced a rise of some sort, most of all the healthcare index .SPXHC. We will have more news in the days to follow.

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Author: Max Rothstein

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