Analysis of the American trading session

During the American session on Friday, December 8, 2017, the US dollar was trading in mixed way against the basket of currencies, but still strengthened its position against most competitors. Some pressure on the US dollar was provided by data on employment, which turned out to be weaker than in the previous period, but it will not have a negative impact on the Fed decision to raise the interest rate at the next meeting. See “Data on Employment in  the USA .“

The single currency rose against the US dollar during the US session, which was caused by the growth of the cross rate EUR/GBP, due to a significant weakening of the pound in the course of trading.

The British pound continued its decline in the US trading, which was caused by partial profit-taking, after the rally of the British currency the day before, as well as pessimistic comments by EU officials on Brexit. EU representatives said that despite recent progress, the negotiations proved to be rather complicated and protracted. On October 15, the EU leaders will gather to assess the progress achieved in the negotiations and agree to move on to the next stage.

Alexander Sivtsov