The European trading assets remain under pressure of the US currency. First of all, let’s analyze the movement of the British pound against the US dollar. The GBP/USD pair lost about 0.6%, dropping from 1.3580 to 1.3520. The British national currency is trading under pressure after UK Prime Minister Theresa May announced plans to reshuffle the British government. Ahead of the publication of statistical data, traders focus on political events. The UK scheduled Parliamentary debates on January 16 to 17th, during which the Brexit procedure will be discussed. Analysts forecast high volatility of the GBP/USD pair, as all political events often cause the jitters of the investors.
Geopolitical events usually affect the movement of the USD/CHF pair. Meanwhile, quiet market and calm global situation only add strength to the US dollar, as a result, the pair is trading above 0.9824. Meanwhile, Switzerland released its unemployment data. On a seasonally and calendar adjusted basis, the jobless rate decreased to 3% in December from 3,1% in the previous month. Without adjustments, the corresponding index increased to 3.3%. Tomorrow, the UK will release important reports on industrial production in November. The strong data is unlikely to have a significant impact on the movement of the pound against the US dollar. According to currency strategists, the US dollar will continue to strengthen against its counterparts.
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