FX Update – November 27 – Sterling in Focus

<h3>GBPUSD, H1</h3>
<p>Narrow ranges have been prevailing in risk-cautious trading. The <strong>USDIndex</strong> settled around the <span><strong>92.00</strong></span> level, above yesterday’s 12-week low at <strong><span>91.84</span></strong>. <strong>EURUSD</strong> remained buoyant but off from the 12-day peak seen yesterday at <strong><span>1.1942</span></strong>. <strong>Cable</strong> also held within its Thursday range. <strong>USDJPY</strong> ebbed to a four-day low at <strong><span>103.91</span></strong>. The <strong>Yen</strong> was concurrently steady versus the Euro and the Pound, but posted respective two- and four-day lows against the Australian and Canadian Dollars. <strong>AUDUSD</strong> ticked fractionally higher, which was still sufficient to lift the pair into 12-week high terrain above <strong><span>0.7380</span></strong>. <strong>NZDUSD</strong> posted a new 29-month peak at <span><strong>0.7030</strong></span>. <strong>USDCAD</strong> remained heavy but just above recent 17-day lows. Bitcoin, which performed strongly this year on the back of dollar liquidity, found a toehold, but remained over 12% down on its recent highs.</p>
<p><a href="https://analysis.hotforex.com/wp-content/uploads/2020/11/2020-11-27_15-02-04.png"><img loading="lazy" class="alignnone size-full wp-image-191534" src="https://analysis.hotforex.com/wp-content/uploads/2020/11/2020-11-27_15-02-04.png" alt="" width="725" height="536" srcset="/wp-content/uploads/2020/11/2020-11-27_15-02-04.png 725w, /wp-content/uploads/2020/11/2020-11-27_15-02-04-300×222.png 300w, /wp-content/uploads/2020/11/2020-11-27_15-02-04-80×60.png 80w, /wp-content/uploads/2020/11/2020-11-27_15-02-04-485×360.png 485w, /wp-content/uploads/2020/11/2020-11-27_15-02-04-696×515.png 696w, /wp-content/uploads/2020/11/2020-11-27_15-02-04-568×420.png 568w" sizes="(max-width: 725px) 100vw, 725px" /></a></p>
<p>US markets will reopen after yesterday’s Thanksgiving holiday, but market conditions will remain on the thin side. President Trump said that he will leave the White House if the Electoral College votes for Biden, which may be as close to formally conceding the election as he will go. A sharp focus remains on EU and UK talks, with a face-to-face round reportedly taking place in London over the weekend. There are now reports that the EU parliament might convene as late as <strong>December 28</strong> to ratify a deal, if necessary.</p>
<p><em><strong>The spectre of a no-deal hangs over proceedings, though the consensus, as judged by the ongoing stability of the Pound, remains for a narrow deal to be reached.</strong></em></p>
<p><a href="https://analysis.hotforex.com/wp-content/uploads/2020/11/2020-11-27_15-00-24.png"><img loading="lazy" class="alignnone size-full wp-image-191524" src="https://analysis.hotforex.com/wp-content/uploads/2020/11/2020-11-27_15-00-24.png" alt="" width="725" height="536" srcset="/wp-content/uploads/2020/11/2020-11-27_15-00-24.png 725w, /wp-content/uploads/2020/11/2020-11-27_15-00-24-300×222.png 300w, /wp-content/uploads/2020/11/2020-11-27_15-00-24-80×60.png 80w, /wp-content/uploads/2020/11/2020-11-27_15-00-24-485×360.png 485w, /wp-content/uploads/2020/11/2020-11-27_15-00-24-696×515.png 696w, /wp-content/uploads/2020/11/2020-11-27_15-00-24-568×420.png 568w" sizes="(max-width: 725px) 100vw, 725px" /></a></p>
<p><strong>Click </strong><a href="https://www.hotforex.com/en/trading-tools/economic-calendar.html"><strong>here</strong></a><strong> to access the Economic Calendar</strong></p>
<p><strong>Stuart Cowell </strong></p>
<p><strong>Market Analyst</strong></p>
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