The price of yellow metal continued to grow yesterday despite the progress made on final adoption of tax reform.
The common European currency continued to advance against the Dollar yesterday, reaching the 1.1845 mark.
In line with expectations, the currency rate spent previous trading day moving horizontally between the 112.80 and 112.45 levels.
The British Pound appreciated against the US Dollar by 0.7% yesterday.
In result of previous trading session the exchange rate has broken the three-week long descending channel.
In result of formation of the head and shoulders pattern, the currency rate managed to break above the monthly PP at 1.1806.
In result of the previous trading session the pair fell to 112.10 but then resumed the surge and started new week at 112.70.
Because of sudden news that came from Brussels on Friday, the Pound lost more than 100 points against the Dollar.
The yellow metal is trying to pave the path to the north through the upper boundary of a medium-term descending channel.
As the House and Senate managed to reach agreement on tax reform, the Dollar strengthened against the Euro.
Despite the progress made on tax reform, the buck did not notably appreciate against the bullion.
Due to release of better than anticipated data on the US Core Retail Sales, the currency rate ended previous trading session near the 38.2% Fibonacci retracement level.
In result of the Fed Funds Rate hike, the currency rate cough downside momentum and slipped straight to the 50% Fibonacci retracement level at 112.45.
In result of the interest rate hike yesterday, the cable formed new rising wedge formation.
Despite the Federal Funds Rate hike the price of yellow metal increased to the 1,259.00 level.
In result of the Federal Funds Rate hike the currency exchange rate surged by 0.5%.
In light of the upcoming FOMC meeting he buck continued to appreciate against the yellow metal yesterday.
The currency exchange rate continues to anticipate the upcoming Fed meeting via slowly fluctuating in a junior descending channel.
The Labour Department stated that the US job openings cooled unexpectedly in the month of October from a record-high registered previously.
The British Pound received only temporary support from the UK data indicating the country's inflation at the six-year high in November.
Yesterday's trading session did not result in major price movements.
In result of previous trading session, the currency rate made a rebound from combined resistance formed by the weekly and monthly PP near the 1.1800 mark.
The Labour Department stated that the US job openings cooled unexpectedly in the month of October from a record-high registered previously.
The Labour Department stated that the US job openings cooled unexpectedly in the month of October from a record-high registered previously.