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Location: UK Pound Higher as Wild Swings Accompany Brexit Speculation UK pound is swinging wildly today, partly due to a suspected fat-finger trade, and partly due to the speculation accompanying the possibility of a Brexit from the European Union. There is a lot of uncertainty right now, and sterling has been moving between gains and losses the last couple of days. Yesterday, the UK pound dropped dramatically against its major counterparts as a poll indicated that those in favor of a Brexit were ahead of those in favor of remaining. The latest results, however, indicate that more UK citizens are in favor of staying — but the margin is razor thin. After seeing the results, there are some thoughts that an accidental trade, or a fat-finger trade, triggered some dramatic gains for the sterling, especially against the US dollar. It’s been a bit wild the last couple of days, and things are calming down a bit. However, the UK pound is still mostly higher against its counterparts right now, logging some gains as things relax and as Forex traders go back to speculating about a Brexit based on the latest poll numbers. At 14:13 GMT GBP/USD is higher, moving up to 1.4592 from the open at 1.4442. EUR/GBP is lower, dropping to 0.7786 from the open at 0.7862. GBP/JPY is up to 156.29 from the open at 155.33. If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

Dollar Index Edges Higher Following Friday’s Comments from Yellen

The US dollar continued to benefit from the outlook for monetary tightening from the Federal Reserve, rising against a basket of currencies during Monday’s trading. The greenback gained mostly on currencies of emerging markets, while its performance versus major currencies was far from stellar. Fed Chair Janet Yellen was speaking on Friday, and she has signaled that the Fed may tighten monetary policy “in the coming months.” Such comments supported the dollar, and the Dollar Index rose about 0.2% during the current trading session. Yet the greenback struggled to rise against majors, with the exception of the very soft yen. One of the possible reasons for the dollar’s underperformance was the fact that US markets are closed for a holiday. This prevented the reaction to the Yellen’s words to be as strong as could have been otherwise. EUR/USD edged higher from 1.1112 to 1.1134 as of 18:08 GMT today. GBP/USD went up from 1.4606 to 1.4632. USD/JPY climbed from 110.41 to 111.08. If you have any questions, comments or opinions regarding the US Dollar, feel free to post them using the commentary form below. http://www.earnforex.com/news/2016/05/30/dollar-index-edges-higher-following-fridays-comments-from-yellen/

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