British Pound Mar '20 (B6H20)
British Pound Futures Market News and Commentary
The dollar index (DXY00) on Tuesday rose +0.427 (+0.43%). Mar euro-fx futures (E6H0) closed down -0.0047 (-0.44%), and EUR/USD (^EURUSD) fell -0.0043 (-0.40%). Mar yen futures (J6H0) closed down -0.0010 (-0.10%), and USD/JPY (^USDJPY) fell -0.01 (-0.01%).
The dollar index on Tuesday rallied to a 4-1/2 month high as European economic concerns undercut EUR/USD. The dollar extended its gains on Tuesday's stronger-than-expected U.S. economic data.
EUR/USD slumped to a new 2-3/4 year low Tuesday on Eurozone economic concerns. Tuesday's German Feb ZEW survey expectations of economic growth index plunged by -18.0 points to 8.7, weaker than expectations of -5.2 to 21.5. Also, Eurozone Jan new car registrations fell -7.5% y/y to 951,000, the biggest decline in 5 months.
EUR/USD was also undercut by the German Bundesbank's monthly economic report on Monday, which said the China coronavirus is a "cyclical downside risk" for Germany since "a temporary decline in overall dem... Read more
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