Stimulus Hopes Sees GBP and USD Rate Rise

Continued Brexit uncertainty left the Pound struggling again on Wednesday as recent headlines suggested progress was being made although several key issues were still not being addressed. These issues could cause problems for the currency, especially if a deal is not made. The deadline of 15th October is looming and further progress today is going to be the main focus for investors today. This could leave the Pound open to potential losses, especially if talks remain slow. However, at the end of trading yesterday the Pound finished the day at 1.0979 against the Euro and 1.2921 according to the Foreign Exchange Market.

There were some impressive gains for the Euro as it strengthened through the day as a result of the US Dollar experiencing a dip. Even negative German data relating to a contraction in industrial production during August couldn’t hold it back.

The US Dollar moved lower yesterday after there was fresh hope that US stimulus was still a possibility following tweets from Trump suggesting that some targeted spending measures could be implemented. US initial jobless claims are going to be the main focus today although any political uncertainty could certainly add further problems to the safe-haven currency.

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