Why gbp/usd is going down

Mounting tensions related to the Brexit Northern Ireland Protocol hurt the pound. The dollar benefited from its safe-haven condition, while the pound suffered from Brexit woes. The country lifted most COVID restrictions, despite reporting roughly 40, new contagions and 19 deaths over the last 24 hours.

At the same time, Prime Minister Boris Johnson has been put in isolation due to close contact. The rule of self-isolating will no longer apply to those fully vaccinated since mid-August. The UK macroeconomic calendar has nothing to offer until next Wednesday. The pair is oversold, but there are no signs it would change course. The RSI indicator stands at 26, oversold for the first time since in a month.

The pair has two relevant monthly lows in the 1. Click here for options trades from Benzinga. Mergers and acquisitions have been the name of the game for biotech investors this year. It's been an amazing year ride for Tesla investors — literally better than any other stock.

The wealth created is hard to fathom. Our experts make weekly updates forecasting the next possible moves of the euro-dollar pair. Here you can find the most recent forecast by our market experts:. Lingering inflation becomes a concern on both shores of the Atlantic.

Market sentiment improves on stimulus hopes, US-Sino talks but the dollar remains firmer. All eyes on the Brexit talks in London. The pair retreated from the highs of high near Yellen's comments on inflation, higher equity market, and Fed tapering influences traders' decisions. The US year Treasury yields remain elevated near 1. In doing so, the black gold struggles to justify headlines from the Middle East, as well as risk-on mood, amid the US dollar rebound. By the end of the year , the average outlook for the pair was 1, Read more details about the forecast.

A pandemic disrupted financial markets and the global economy in , and the greenback is the overall loser. The US management of the pandemic resulted in 18 million people infected and roughly , deaths.

It also cost Trump's government, who lost the re-election to Democrat rival Joe Biden. Spotlight: Brexit Negotiations. The agreement moved to the House of Lords, which approved the deal late on Wednesday, just one day before Britain is set to leave the European Union. Read more. Monthly Currency Guide 12th April Moving to Spain Guide 6th April Moving to France Guide 4th April Will Pound to Euro Fall further?

The pair is also called 'The Cable', referring to the first Transatlantic cable that was crossing the Atlantic Ocean in order to connect Great Britain with the United States of America. This term originated in the midth century, which makes it one of the oldest currency pairs. The Cable is a closely watched and widely traded currency pair where the Pound is the base currency and the US Dollar is the counter currency.

For that reason, all the macroeconomic data related to the US and the UK affects the price of this pair. One of the events which affected most the volatility of the pound vs. The popularity of Euro Dollar is due to the fact that it gathers two main economies: the European and American from United States of America ones. This is a widely traded currency pair where the Euro is the base currency and the US Dollar is the counter currency.

Once traders in Europe get to their desks a flurry of activity hits the tape as they start filling customer orders and jockey for positions. At noon activity slows down as traders step out for lunch and then picks back up again as the U. Japanese Yen has a low interest rate and is normally used in carry trades.

This is the reason why is one of the most trades currencies worldwide. The value of the pair tends to be affected when the two main central banks of each country, the Bank of Japan BoJ and the Federal Reserve Bank Fed , face serious interest rate differential. Latest GBP News.