Published: Sat, March 16, 2019
Money | By Ralph Mccoy

USA dollar drops amid rising sterling

USA dollar drops amid rising sterling

A late night vote in Parliament ruled out a potentially disorderly "no-deal" Brexit under any circumstances.

The yuan weakened. Treasuries erased a drop and the dollar gained, holding those moves as data showed United States unemployment rose to a four-week high.

USA producer prices barely edged higher in February, in the smallest annual increase since June 2017, the latest sign of benign inflation that supports the Federal Reserve's patient approach to future interest rate hikes. This would be a "nuclear option" which would effectively expose the destruction of British democracy, yet it remains a possibility, and I believe it is this possibility which explains why the British Pound is trading over 1% up on the day against the U.S. Dollar at $1.3216 at the time of writing.

The S&P 500 was fell 0.1 percent to 2,809 as of 4 NY. Nikkei slumped 1% to 21290.24 with yen little changed against the dollar as data showed domestic machinery orders fall in January accelerated. "But the dollar has been weakened by declining USA yields and any reprieve for the currency is likely to be limited". Strong resistance can be seen at 111.46 (38.2% retracement level), an upside break can trigger rise towards 112.12 (23.6% retracement level).On the downside, immediate support is seen at 110.88 (50% retracement level), a break below could take the pair towards 110.33 (61.8% retracement level). Emerging-market shares edged lower.

A day earlier, the British currency soared almost 2 percent and reached nine-month highs after lawmakers voted against a potentially disorderly "no-deal" departure from the EU. The stock closed up 0.5 percent. The S&P 500 gained 19.4 points, or 0.69 percent, to 2,810.92 and the Nasdaq Composite added 52.37 points, or 0.69 percent, to 7,643.41.

Syria: ISIL’s last fight to end very soon, predicts SDF militia
Baghouz is the latest front on Syria's complex civil war, which enters its ninth year this month. It finally resumed the attack on Sunday, backed by coalition air strikes.

Lilly Singh to host a late night show on NBC
She is also a New York Times bestselling author with her book " How To Be A Bawse: A Guide To Conquering Life ". She's been posting videos since 2019. "I can't even believe I am writing this caption", she wrote.

Louis Tomlinson's teenage sister Felicite Tomlinson dies after suspected heart attack
Following the devastating news of his younger sister's death , Louis Tomlinson has pulled out of Friday night's Comic Relief . This news comes just a few years after the tragic passing of their mother, Johannah Deakin , who had leukemia.

U.S. Treasury yields rose on Wednesday after falling the previous session, as risk appetite improved and equity markets stabilized, with a poor 30-year bond auction further lifting rates.

The rationale: Britain just can't seem to agree on a Brexit deal - and the uncertainty will keep bruising sentiment toward the most-volatile Group-of-10 currency this year, said Jingyi Pan, strategist at IG Asia Pte in Singapore.

Germany's 10-year yield gained two basis points to 0.086 percent.

The pullback in sterling follows a big rally on Wednesday. NY time to the highest in more than five months.Futures on the S&P 500 Index were unchanged at the highest in more than four months.The MSCI Asia Pacific Index fell 0.3 percent.The MSCI Emerging Market Index declined 0.1 percent.The U.K.'s FTSE 100 Index climbed 0.6 percent to the highest in more than three weeks on the largest increase in more than a week.

USA crude rose $1.39 to settle at $58.26 per barrel and Brent settled up 88 cents at $67.55. The pound was last up 1.39 percent at $1.326 after a roller-coaster ride this week in which its price has moved within a range of 3-1/2 cents against the dollar. USA crude oil futures settled at $58.26 a barrel, rising $1.39 cents, or 2.44 percent.

Like this: