Against Dollar, Euro Falls And Pound Rises
ICM Brokers | Aug 26, 2015 05:45AM ET
EUR/USD
EUR/USD fell against the U.S. dollar on Tuesday, after upbeat U.S. economic reports and after China’s central bank cut interest rates in a bid to bolster economic growth after a plunge in the country’s stock market. EUR/USD traded at 1.1435, backing further away from Monday's eight-month peak of 1.1715.
GBP/USD
The pound rose to fresh seven-week highs against the dollar on Tuesday, but gains were held in check amid growing uncertainty over how soon the Bank of England will raise interest rates. GBP/USD hit highs of 1.5815, the most since June 23 and was last at 1.5805, up 0.20% for the day.
USD/JPY
The dollar rebounded against the yen on Tuesday, recovering from steep losses in the previous session, but concerns over the impact of slowing growth in China on the global economy continued to cloud market sentiment. USD/JPY was last up 0.60% to 119.15, recovering from Monday’s lows of 116.80. The pair ended that session down 3%, the largest one-day decline in five years.
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