Pound Sterling moves higher in US presidential election day
The Pound Sterling (GBP) gains slightly to near 1.2980 against the US Dollar (USD) in Tuesday’s London session. The GBP/USD pair rises ahead of the United States (US) presidential election, which will start in the North American session. The US Dollar Index (DXY), which gauges Greenback’s value against six major currencies, falls slightly to near 103.80.
The Greenback went through a significant unwinding of long positions after the Des Moines Register/Mediacom Poll showed that current Vice President Kamala Harris leads former President Donald Trump by three points in Iowa, the state where Trump won clearly in 2016 and 2020. The US Dollar had a strong run-up in October as traders were pricing in Trump’s victory, given his preference for protectionist policies is expected to support the Greenback’s valuation. Read more...
GBP/USD Forecast: US election jitters could cap Pound Sterling's rebound
GBP/USD rose toward 1.3000 after starting the week with a bullish gap but retreated slightly in the second half of the day on Monday. The pair trades in positive territory in the European morning on Tuesday as investors grow anxious while gearing up for the US presidential election.
The US Dollar (USD) came under heavy selling pressure early Monday as some betting sites suggested that Kamala Harris could win the election. Later in the day, the bearish action seen in Wall Street helped the USD find demand as a safe-haven. Read more...
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EUR/USD trades sideways near 1.0900 amid cautious optimism
EUR/USD trades sideways near 1.0900 on Tuesday. The US Dollar looks to stabilize amid cautious optimism, as uncertainty over the US presidential election outcome lingers. US ISM Services PMI is also in focus, as Americans head to the polls.
GBP/USD clings to modest gains below 1.3000, awaits US election result
GBP/USD trades marginally higher on the day but remains below 1.3000 after finding support near 1.2950 on a broadly subdued US Dollar. Traders eagerly await the outcome of the US presidential election, refraining from placing fresh bets on the major.
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Gold attracts dip-buyers after touching a one-week low on Tuesday and trades above $2,740. XAU/USD draws support from a combination of factors. Fed rate cut bets, declining US bond yields and subdued USD demand continue to act as a tailwind for the precious metal.
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