{"id":105281,"date":"2020-09-25T10:38:03","date_gmt":"2020-09-25T09:38:03","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105281"},"modified":"2020-09-25T10:41:43","modified_gmt":"2020-09-25T09:41:43","slug":"104455-gbp-usd-supported-by-uk-finmin-comments-and-dollar-selling","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104455-gbp-usd-supported-by-uk-finmin-comments-and-dollar-selling\/","title":{"rendered":"GBP\/USD Supported By UK FinMin Comments and Dollar Selling"},"content":{"rendered":"<ul>\n<li>Brexit updates keenly followed for cues regarding trading direction.<\/li>\n<li>US data eyed as 200 DMA in play.<\/li>\n<\/ul>\n<p>The GBP\/USD bears couldn&#8217;t push the pair much below the 200-day moving average and faced resistance as the UK finance minister; Rishi Sunak in an emergency statement to Parliament discussed plans to save jobs and businesses from the economic impact of the coronavirus. The pandemic has brought back financial worries through a potential second-wave of infections recently.<\/p>\n<p>The FM&#8217;s plan involves the government subsidizing the pay of employees who have to work less due to the lack of demand. The scheme will cover the two-third of the lost wages for the employees.<\/p>\n<p>The dollar demand continued as the pandemic fears, and the associated economic troubles rose all over the world. The GBP\/USD was also held back by the uncertainties surrounding a deal before Britain&#8217;s exit from the EU.<\/p>\n<p>Nevertheless, the USD profit-taking was visible, after the recent rally to two-month highs. The action surrounded the release of the US Initial Weekly Jobless Claims which was at 870K against an expected 843K and 866K previous. Later, a rally in the equity markets also helped the risk-on mood to continue dollar selling.<\/p>\n<p>The sentiments were helped by the fresh hopes of the US Congress breaking the impasse over the stimulus bill details. Reports indicate a two trillion dollar stimulus bill is being prepared by the democrats and the House Speaker Nancy Pelosi set to resume talks with US Treasury Secretary Steven Mnuchin.<\/p>\n<p>The GBP\/USD traded above mid-1.2700s during today&#8217;s Asian session, but couldn&#8217;t attract much follow-through buying as the market participants await Brexit signals before putting fresh long-bets. Later, US Durable Goods Orders during the North American session could produce some meaningful action in the pair.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brexit updates keenly followed for cues regarding trading direction. US data eyed as 200 DMA in play. The GBP\/USD bears couldn&#8217;t push the pair much below the 200-day moving average and faced resistance as the UK finance minister; Rishi Sunak in an emergency statement to Parliament discussed plans to save jobs and businesses from the [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":82662,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1386,1888,1536,3132,2331,3108,1397],"class_list":{"0":"post-105281","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-brexit","10":"tag-gbp-usd","11":"tag-jobless-claims","12":"tag-nancy-pelosi","13":"tag-uk-finance-minister","14":"tag-us-congress","15":"tag-us-dollar"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/USD Supported By UK FinMin Comments and Dollar Selling - 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