On Tuesday GBP has backed down against the main and secondary currencies, widening its losses for the third day respectively against USD recording the lowest level in three weeks, under the pressure of widening the gap of monetary policy between Britain and US, especially under the strong probability of increasing the American interest prices for the third time during the year in the next September, and the British economy are waiting today for an important data about the building sector which is the most important economic sector, and it’s Leeds about the government economic recovery during the third quarter of 2017.
At 7:15 GMT GBPUSD are backed down by 0.2% to trade at 1.3250$, and the opening price of today’s trading at 1.3269$, and it records the highest at 1.3280$, and the lowest since 14 of September 1.3228$.
GBP has ended yesterday trading with a decreasing by 0.9% against the USD, in a second daily losses respectively, under the pressure of increasing the USD against the most international currencies, and after a weakness data from London observed an backing down up than the expectation for the growth of the British manufacturing industry sector during September.
GBP is facing lately for a negative pressure with increasing the fears about the British government miss about how to deal with the country’s separation from the United Europe, and that’s may affect by weakening the economic recovery path, and effect on the Central Bank plans for tightening the monetary policy and increasing the interest prices.
The GBP will continue its decreasing for the third day respectively against the USD, recording the lowest level in three weeks 1.3228$, and continue increasing the USD against the most currencies, at the same time with renewing the fear about the gap of monetary policy between Britain and the US, especially for the strong probability of increasing the American interest prices for the third time during the year in the next December.
The investors are waiting today for issuing an important data from London about building sector which is the most important main sector data and that supports the growth slowdown index during the third quarter.
At 8:30 GMT the purchase managers index for the building sector are expected to issue at the level 51.0 during September and the index has recorded 51.1 in August.
JPY has recorded the lowest level in three months
JPY has continued in decreasing against USD to trade near its lowest level in three months, this came under the increasing of USD against the main currencies, added to the negative effect on the Japan currency for the early Japan elections.
The USD could increase to the highest level in seven weeks against the main currencies, by getting a support from the best American data and we expect to issue lately about the American economy.
And that’s beside the federal reserve president Janet Yellen remarks during the last week of continuing increasing the interest prices, and expectation about increasing the interest prices again before the end of the year had increased.
JPYUSD are trading at the level 113.06 and that’s after today’s session at the level 112.78 to record the lowest level at 112.67 and the highest level at 113.16.
The JPY has affected negatively by inviting the Japan minister president Shinzo Abe to an early election, adding to making a new motivational group to support the economic, and shares indexes stabilization which decreases the demand for the Safe haven.