The GBP/USD pair has sold off in the past few weeks as traders assess the impact of the ongoing war on the economy. The pair dropped to 1.3260 on Monday, down sharply from the year-to-date high of 1.3870.
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About Crispus Nyaga
Crispus Nyaga is a financial analyst, coach, and trader with more than 8 years in the industry. He has worked for leading companies like ATFX, easyMarkets, and OctaFx. Further, he has published widely in platforms like SeekingAlpha, Investing Cube, Capital.com, and Invezz. In his free time, he likes watching golf and spending time with his wife and child.
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The EUR/USD exchange rate dropped for four consecutive days as the US-Iran war escalated, pushing more investors to the safety of the greenback. It dropped to 1.1510 on Monday, down substantially from the year-to-date high of 1.2082.
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The AUD/USD pair continued its strong downward trend this week, reaching its lowest level since January 23. It has dropped in the last four consecutive days and is down by 4.3% from the year-to-date high.
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The GBP/USD exchange rate wavered after the UK published the latest consumer and producer inflation report. It was trading at 1.3365 on Thursday morning, inside a range it has been in the past few days.
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The EUR/USD exchange rate pulled back slightly even after Christine Lagarde opened doors for interest rate hikes by the European Central Bank (ECB). It was trading at 1.1560, a few points below this week's high of 1.1630.
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The AUD/USD pair continued its downtrend on Thursday as Iran and the United States took different positions on how to end the ongoing war. It dropped to 0.6940, down from this year's high of 0.7180.
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The GBP/USD exchange rate rose slightly as odds of a negotiated settlement between the United States and Iran rose. It jumped to 1.3417 on Wednesday, up from the year-to-date low of 1.3220.
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Bitcoin price remained above the important resistance level at $70,000 on Wednesday morning as energy prices dipped after a key statement from Donald Trump. The BTC/USD pair was trading at 70,700, up from this week's low of 67,540.
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The AUD/USD pair rose slightly after the Australian Bureau of Statistics (ABS) published the latest consumer inflation report. It rose to the important resistance level at 0.7000 from this week's low of 0.6908.
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The GBP/USD exchange rate was flat on Tuesday, a few pips above this month's low of 1.3220. It will be in the spotlight in the next few days as the UK publishes its inflation report.
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Bitcoin prices rebounded and moved above the key resistance level at $70,000 as a risk-on sentiment prevailed in the market. The BTC/USD pair jumped to 71,000, up from the year-to-date low of 60,000.
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The AUD/USD exchange rate held steady above the key resistance level at 0.7000 on Tuesday as the US dollar pulled back after Donald Trump's reversal on Iranian power attacks.
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