- Analytics
- News and Tools
- Market News
- Asian session: The pound climbed
Asian session: The pound climbed
June 20 Sterling rallied early on Monday as momentum swung in favour for Britain to remain in the European Union just days ahead of a referendum, helping underpin risk sentiment which in turn weighed on the safe-haven yen.
The pound climbed 0.9 percent to $1.4483, extending a recovery from last week's two-month trough of $1.4013. It jumped 1.7 percent to 151.75 yen, pulling well away from a three-year trough of 145.34 set on Thursday.
Investors took heart after three of six opinion polls published over the weekend showed a shift towards keeping Britain in the EU, but the June 23 vote still looked too close to call.
Indicating a general pick-up in risk appetite, U.S. stock futures rose 0.9 percent, suggesting a positive open on Wall Street later in the day.
As a result, the yen dipped across the board - a move that may help ease worries about the strength in the currency.
On Friday, Finance Minister Taro Aso said he was deeply concerned about "one-sided, rapid and speculative" currency moves and would respond urgently if needed - a hint at possible yen-selling market intervention.
The dollar climbed 0.6 percent to 104.68 yen, while the euro put on 1.1 percent to 118.72 yen.
Against the greenback, the common currency edged up 0.5 percent to $1.1333. The dollar index eased 0.4 percent to 93.825.
The Australian dollar, usually sold off in times of heightened risk aversion, gained 0.4 percent to $0.7422 . It rose 0.9 percent on the yen to 77.67.
Analysts warned there is little conviction in markets and moves could easily reverse if sentiment turned negative.
"Price action seemed very tentative everywhere, reflecting a mild trimming of ultra-cautious positions ahead of this week's Brexit referendum," analysts at ANZ wrote in a note to clients.
EUR / USD: during the Asian session, the pair was trading in the $ 1.1310-55
GBP / USD: during the Asian session, the pair is trading in the range of $ 1.4435-1.4560
USD / JPY: during the Asian session, the pair was trading in range Y104.40-60
Based on Reuters materials
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
