Dollar predictably rebounded but sterling seems to have finished its big rally

The dollar rebounded from a nine-day low as expected due to a sharp drop in the pound after rising against the background of a positive against Brexit. It sank when the pound jumped more than 2 percent after British lawmakers voted against withdrawing from the EU without a deal. However, later the "American" was able to compensate for the losses and even rose against the yen by 0.35 percent to 111.53 yen, after losing 0.2 percent a day before. On the contrary, the pound slightly rolled back after steep growth in the previous session. Currently, the market wants to know how the process of transferring the UK's exit date from the EU will go and get an idea of the exact date, while it is expected that the British legislators will vote today for the transfer of Brexit scheduled for March 29.


The Australian dollar continued to give up its position and apparently not be able to find reliable support in the near future. The currency lost 0.35 percent, dropping to $ 0.7068, due to a sharp decline in domestic bond yields and the largely weak economic data of China, which is Australia's main trading partner. Industrial output growth in China fell to the slowest rate in 17 years in January-February, although investments in fixed assets and retail sales in the world's second-largest economy were stronger than expected.


The material has been provided by InstaForex Company -