British pound continues to trade lower on Brexit uncertainty
December 10, 2020
EUR/USD 1.2117 GBP/USD 1.3295 USD/CAD 1.2755 AUD/USD 0.7496 USD/JPY 104.33 USD/CNH 6.5440 USD/ILS 3.2510 USD/MXN 19.9985 USD/CHF 0.8870 USD/INR 73.6662
USDThe Bloomberg Dollar Index is trading lower. Currency forecasters are moving towards a bearish dollar view for 2021 as the currency is set to have its worst year in four.GBPSterling weakened after a dinner between UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen ended without a breakthrough for Brexit. Negotiators have until Sunday to come up with a final deal.EURThe ECB released its rate decision at no change, in-line with economists' expectations. EUR/USD traded stronger during Lagarde’s comments following the decision, hitting a high of 1.2135.CADThe Canadian dollar hit a two-year high supported by increased market risk appetite following the ECB statement and higher commodity prices. Yesterday’s Bank of Canada meeting resulted in keeping official rates unchanged.ASIA/PACIFICThe Australian dollar led G-10 currencies. It hit near a two-year high as iron ores prices continue to strengthen, supporting the outlook for the country’s commodity exports.
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