Eurusd/gbpusd - page 2228
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Profit-Taking on Trump Slump sees British Pound + Euro Retreat while US Dollar is Forecast to Benefit Under New US Leader
Donald Trump will be the next President of the United States of America which should aid the US Dollar over the longer-term which could explain why we have started to see the currency recover its initial losses against the Euro and Pound Sterling.
Donald Trump has succeeded in securing the required 270 electoral college votes to take the keys to the Oval Office.
What's more, the Republicans have won enough seats to control both the House and Senate which should allow a President Trump to pass policy unhindered.
We reported ahead of polls closing the view that a Trump victory would likely benefit the Pound against the Dollar but could see both currencies fall against the Euro.
Analysis from Alan Ruskin at Deutsche Bank suggested that the Pound could gain by about 2% against the US Dollar on the event of such an outcome.
While GBP/USD was a lot higher when it became clear an upset was on the cards it has since fallen back suggestng the trade has since unwound.
One reason for the failure in the move to extend is its similiarity to the Brexit event.
"We believe investors feel like they have seen this movie before and have been eager to take advantage of any exaggerated sell-off as an entry point for longs. As a result, we ex-pect the fall in prices to be rather mild with very few trades both on the way out as well as on the way in," says Christian Schwarz at Mizuho in London.
Aurelija Augulyte at Nordea Markets also believes the pullback we have seen from the initial move proves markets have learned from Brexit and enacted a faster reversal.
GBP/USD but failed to clear the 1.2557 highs of last week and the decline should take the paur to the 1.2330 region which is still pivot support ahead of the range lows in the 1.2115-1.2080 region.
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I see now on eurusd already land on 1.0915, yesterday after final result if Donald Trump as winner and become new leader on america, many pair move rapidly and suddenly although on previous day movement on narrow because many big trader might still waiting final result on election day