Forex News

Pound Outshines against Euro Since 2015

Pound Outshines against Euro Since 2015


The British pound hold on to its winning situation in 5 and half years after the Telegraph published the report stating the fastest exit from lockdown as U.K vaccination rollout seems to be better than expected. The euro fell to 0.8% to 85.41 pence tumbling to the ninth consecutive day in the hope of the United Kingdom will come back to its economy.

The Dollar dropped down in early European trading on Wednesday as traders are turning around to riskier currencies after Federal Reserve Chairman Jerome Powell by reassuring continues support to the economic condition in his semi-annual testimony to congress.

EUR/USD arise 0.1% to 1.2156

USD/JPY slightly up 0.3% at 105.50

AUD/USD inched up 0.1% to 0.7920, trading near a three-year high.

Fed Chief Powell Repeat the statement on Tuesday that the U.S. Interest rates will persist low as of now with the central bank keeps on buying Bonds to support the U.S economy. Congress is almost ready to authorize President Joe Biden’s New $1.9 trillion stimulus package.