Forex market reviews

Market sessions

10:38 (GMT+3)

EURUSD: the euro’s upwards trend continues

Brexit is dominating the Forex market this week. The pound is under intense scrutiny by market participants. On Thursday, it shed 2.3% against the greenback to reach 1.2735. This drop was caused by reports of UK Brexit Minister Dominic Raab’s resignation. Another piece of news that took its toll on the pound was that of the prospect of Prime Minister Theresa May facing a no-confidence vote. The single currency dropped to 1.1271 against the dollar on the back of this report, although euro bulls quickly recovered these losses in Europe and pushed on to a new session high of 1.1362.

Media reviews

Tina Pham

17:56 (GMT+3)

Pound falls steeply as Brexit resignations rock UK government (news: 15/11/18)

The pound has fallen steeply against major international currencies after Theresa May’s government was rocked by multiple resignations over her Brexit deal.

Market sessions

Matthew Anthony

10:03 (GMT+3)

EURUSD: euro bulls preparing to break through 1.1350

On Wednesday the 14th of November, trading on the euro closed slightly up. Fluctuations on the GBPUSD pair exerted their influence on the single currency throughout the day. The fluctuations on the British pound were the result of contradictory reports on Brexit. The pound and euro closed up against the dollar. The euro closed against the dollar at 1.1323.