Dollar pulls over on poor German data, Pound up on defeated EU divorce deal


by   |  VIEW 187
Dollar pulls over on poor German data, Pound up on defeated EU divorce deal

On Tuesday, the 15th of January, the American Dollar rose against almost all of the seven major currencies including euro, after data revealed that the German economy had slowed down markedly on 2018. Meanwhile, the Great Britain pound had been highly volatile on Tuesday, Jan 15th, as its intra-day trade had experienced as many as 260 points, while the lowest was 1.2667 and the highest was 1.2917, amid a chaotic Brexit vote in UK house of commons, which experienced a dramatic defeat of UK PM May’s EU divorce deal.

According to the German government report revealed on Tuesday, the 15th of January, the Europe’s largest economy slid 1.5 percent in 2018 and it has been the slowest rate of GDP growth in five years. Apart from that, investors were also worried about the trade disputes all over the world, driven by US president Donald Trump.

However, followed by the news of weakened German financial data, the Euro slipped alongside GBP, while the Australian dollar and New Zealand dollar had also closed the day in the reds. Citing statistics, Euro slipped 0.49 percent along with Japanese Yen, which shredded off 0.35 percent of its earlier gain, while the Great Britain Pound were 0.01 percent down after a highly volatile day which experienced the defeat of PM May’s EU divorce deal.

The Canadian dollar dropped 0.15 percent and Australian dollar drained 0.24 percent against American dollar, meanwhile the Chinese Yuan extended its recent leg of two-day rally against US dollar with a 0.17 percent gain to 6.7713.