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07:44 Fri 30 Sep 2022
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Sterling claws back against US dollar for third day in a row
The British pound on Friday had regained some incremental territory among the G10 currency set as the third quarter came to a close.
GBP/CAD is 0.2% up at C$1.52, with similar price action being seen against the Swiss franc.
The GBP/USD pair is sitting at US$1.11, a small improvement from the previous day and marking the third consecutive day of clawbacks following the Bank of England’s sovereign bonds intervention.
Despite gains over three days, GBP/USD faces a steep hill – Source: capital.com
The US dollar softened after its impressive run of late, partially due to yesterday’s gross domestic product (GDP) results that showed negative growth of 0.6%.
Against the Swiss franc, the dollar lost ground, though a bullish clawback is already being entertained on the four-hour trading chart.
Bullish support on the USD/CHF pair – Source: capital.com
The euro is still under parity against the US dollar at US$0.98, but has gained slightly against CHF and CAD.
Today’s Eurozone inflation data is expected to come in at 9.7%, and all eyes will be on how the euro responds to actual results.
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A bearish week for bitcoin has staged a surprise turnaround heading into Friday’s session. While It looked like it was set for a bad day after yesterday’s dip to US$18,500, we’ve ultimately seen an impressive 24-hour rally up to US$19,700 to finish the week relatively even. Ethereum has…
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