Assure Hedge FX Report — Aug 13th

<p>Monday August 13th, 2018</p><figure><img alt="" src="https://cdn-images-1.medium.com/max/275/1*vnE0syL5SKSo2-gOeMMJHQ.jpeg" /><figcaption>Trump v Turkey is causing rifts</figcaption></figure><p>The Euro lost around 0.25% to trade at 1.1380 as a Turkey-led crisis spurs risk-off sentiment that is greatly favoring the US Dollar. Overall, the Euro is being negatively affected by the ongoing economic crisis in Turkey as Trump piles on the pressure with a surprising round of sanctions on the Turkish economy.</p><p>The Turkish lira selloff is having an effect on FX movements as the majority of the Eurozone big banks are somewhat active in Turkey with the ECB showing great concern about their exposure to Turkey throughout the last week.</p><p>The Japanese Yen strengthened against both the dollar and the euro, with <a href="https://www.investing.com/currencies/usd-jpy">USD/JPY</a> shedding 0.53% to trade at 110.21 and <a href="https://www.investing.com/currencies/eur-jpy">EUR/JPY</a> down 0.94% to 125.39.</p><p>The British Pound was near its lowest levels since June 2017, with <a href="https://www.investing.com/currencies/gbp-usd">GBP/USD</a> at 1.2760, pressured lower by the strengthening dollar amid fears over the growing prospect of a ‘no-deal’ Brexit further pushing down the value. The ongoing rift between London and Brussels is causing havoc it seems!</p><p>Across the ocean, the USD/CAD has entered a consolidation phase and has been in a narrow trading band, around 1.3150s, or near three-week highs as you’ll see below.</p><figure><img alt="" src="https://cdn-images-1.medium.com/max/753/0*r_WmEH62jp8m3Q3N" /></figure><p>*prices correct as of 10.30, 13rd August 2018</p><p><strong>EUR/USD &amp; GBP/USD</strong></p><figure><img alt="" src="https://cdn-images-1.medium.com/max/423/0*UC9ReqLaJqi4sWph" /><figcaption>EUR/USD</figcaption></figure><figure><img alt="" src="https://cdn-images-1.medium.com/max/429/0*pjtDuH8nqWlwPuge" /><figcaption>GBP/USD</figcaption></figure><p><strong>Get in Touch</strong></p><p>If you require any feedback on the above feel free to contact me at <a href="mailto:[email protected]">[email protected]</a> or you can get us on our <a href="https://twitter.com/AssureHedge">Twitter </a>or Linkedin accounts. Alternatively, call us on 0035316918846.</p><img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=7a2dbfe80a38" width="1" height="1" alt="" /><hr><p><a href="https://blog.assurehedge.com/assure-hedge-fx-newsletter-7a2dbfe80a38">Assure Hedge FX Report — Aug 13th</a> was originally published in <a href="https://blog.assurehedge.com">Assure Hedge</a> on Medium, where people are continuing the conversation by highlighting and responding to this story.</p>