net_left adver left

Sterling climbs as dollar rally wanes

Wednesday, November 23, 2022
Sterling climbs as dollar rally wanes © Reuters. FILE PHOTO: British Pound Sterling and U.S. Dollar notes are seen in this June 22, 2017 illustration photo. REUTERS/Thomas White

By Harry Robertson

LONDON (Reuters) - The pound rose on Tuesday after falling in the previous session, as the dollar retreated following three days of gains.

The greenback - typically the driver of global currency markets - rose sharply on Monday as a jump in COVID-19 cases in China sparked growth fears and sent investors towards the safe-haven currency, causing the pound to drop 0.59%.

Still, the U.S. currency was down against its major peers on Tuesday, with sterling rising 0.33% to $1.185.

"The general picture is the dollar is just drifting a little bit lower after having a fairly strong rally yesterday, in the absence of any real news overnight," said Adam Cole, head of FX strategy at RBC Capital Markets.

The pound has rallied sharply in recent weeks after touching a record low of $1.0327 in September, when the government unveiled plans for large unfunded tax cuts.

New finance minister Jeremy Hunt last week pledged to raise taxes and cut spending in an effort to bolster public finances and restore market credibility, despite Britain sliding into a recession.

The euro rose 0.11% against the pound to 86.7 pence on Tuesday.

It was little changed after the Organisation for Economic Co-operation and Development (OECD) predicted Britain's economy would shrink 0.4% next year after expanding 4.4% in 2023.

Data on Tuesday showed the British government borrowed less than expected in October, although the budget deficit is likely to surge in the coming months due to energy support measures and an economic slowdown.

Sterling traders will keep an eye on testimony from Richard Hughes, the head of Britain's Office for Budget Responsibility, who will speak to the Parliament's Treasury Committee on Tuesday.

Traders will also scrutinise speeches from U.S. Federal Reserve officials due on Tuesday, ahead of Wednesday's release of minutes from the last Fed meeting.

A large part of the rally in sterling has been driven by a fall in the dollar, with a cooling in U.S. inflation driving hopes that the Fed might slow down on its aggressive rate hikes.

RBC's Cole said he expects the pound to drop to $1.04 in the coming months due to the weakness of the British economy.

"I think it's more of a grind lower from here, rather than the sort of explosive losses we saw back in September," he said.

Leave your comment
HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
29-11-2022 07:11:52 (UTC+7)

EUR/USD

1.0345

+0.0008 (+0.08%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (5)

Sell (2)

EUR/USD

1.0345

+0.0008 (+0.08%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (5)

Sell (2)

GBP/USD

1.1965

+0.0006 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

USD/JPY

138.70

-0.24 (-0.17%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (2)

AUD/USD

0.6651

+0.0003 (+0.05%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (6)

Sell (0)

USD/CAD

1.3488

-0.0009 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (7)

EUR/JPY

143.48

-0.14 (-0.10%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

EUR/CHF

0.9817

+0.0006 (+0.06%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

Gold Futures

1,740.30

0.00 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (0)

Silver Futures

20.855

-0.060 (-0.29%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Copper Futures

3.6013

+0.0013 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Crude Oil WTI Futures

76.31

-0.93 (-1.20%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

Brent Oil Futures

83.24

-0.47 (-0.56%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

Natural Gas Futures

7.295

-0.034 (-0.46%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

US Coffee C Futures

163.02

-2.03 (-1.23%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (5)

Sell (3)

Euro Stoxx 50

3,935.51

-26.90 (-0.68%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

S&P 500

3,963.94

-62.18 (-1.54%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (11)

Sell (0)

DAX

14,383.36

-158.02 (-1.09%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

FTSE 100

7,474.02

-12.65 (-0.17%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

Hang Seng

17,297.94

-275.64 (-1.57%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

US Small Cap 2000

1,830.31

-38.89 (-2.08%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (0)

IBEX 35

8,323.20

-87.50 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

BASF SE NA O.N.

48.910

-0.695 (-1.40%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (2)

Sell (5)

Bayer AG NA

55.75

+0.30 (+0.54%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Allianz SE VNA O.N.

203.80

-1.55 (-0.75%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Adidas AG

121.26

-2.72 (-2.19%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

Deutsche Lufthansa AG

7.528

-0.039 (-0.52%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

Siemens AG Class N

131.54

-0.52 (-0.39%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

Deutsche Bank AG

10.206

-0.184 (-1.77%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (8)

 EUR/USD1.0345Neutral
 GBP/USD1.1965↑ Buy
 USD/JPY138.70Neutral
 AUD/USD0.6651↑ Sell
 USD/CAD1.3488↑ Sell
 EUR/JPY143.48Neutral
 EUR/CHF0.9817↑ Buy
 Gold1,740.30↑ Buy
 Silver20.855↑ Sell
 Copper3.6013↑ Buy
 Crude Oil WTI76.31↑ Sell
 Brent Oil83.24↑ Buy
 Natural Gas7.295↑ Sell
 US Coffee C163.02Buy
 Euro Stoxx 503,935.51↑ Sell
 S&P 5003,963.94↑ Buy
 DAX14,383.36↑ Sell
 FTSE 1007,474.02↑ Sell
 Hang Seng17,297.94↑ Sell
 Small Cap 20001,830.31↑ Buy
 IBEX 358,323.20↑ Sell
 BASF48.910Neutral
 Bayer55.75↑ Buy
 Allianz203.80↑ Buy
 Adidas121.26↑ Sell
 Lufthansa7.528↑ Sell
 Siemens AG131.54↑ Sell
 Deutsche Bank AG10.206↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,655/ 6,725
(0/ 0) # 1,456
SJC HCM6,665/ 6,745
(0/ 0) # 1,477
SJC Hanoi6,665/ 6,747
(0/ 0) # 1,479
SJC Danang6,665/ 6,747
(0/ 0) # 1,479
SJC Nhatrang6,665/ 6,747
(0/ 0) # 1,479
SJC Cantho6,665/ 6,747
(0/ 0) # 1,479
Cập nhật 29-11-2022 07:11:54
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,741.89-9.06-0.52%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.91025.400
RON 95-III23.78024.250
E5 RON 92-II22.67023.120
DO 0.05S24.80025.290
DO 0,001S-V26.78027.310
Dầu hỏa 2-K24.64025.130
ↂ Giá dầu thô thế giới
WTI$76.37+0.210.28%
Brent$82.44-1.07-1.30%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.570,0024.840,00
EUR25.236,0626.646,75
GBP29.246,4930.490,84
JPY175,16185,42
KRW16,0619,57
Cập nhật lúc 06:21:59 29/11/2022
Xem bảng tỷ giá hối đoái
adver main right