AUD/USD, EUR/GBP drop to multi-year lows while EUR/USD dips

Stocks and Investing
Source: (remove) : ig.com
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Wed, December 11, 2024

[ Wed, Dec 11th 2024 ] - ig.com

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^{Published in Stocks and Investing on Wednesday, December 11th 2024 at 11:41 GMT by ig.com}

AUD/USD's fall through the August low at $0.6349 as the RBA kept rates on hold at 4.35% but adopted a mildly dovish stance puts the October 2023 low at $0.6271 on the map. Minor resistance can be seen at Friday's $0.6373 low.

The article from IG discusses the recent movements in several major currency pairs. The AUD/USD has dropped to its lowest level since 2020, influenced by a stronger US dollar and concerns over China's economic recovery. Similarly, EUR/GBP has hit a multi-year low, driven by disappointing economic data from the Eurozone and expectations of tighter monetary policy from the Bank of England. Meanwhile, EUR/USD has also seen a decline, hovering near its lowest since December 2022, due to a robust US dollar bolstered by positive US economic indicators and hawkish comments from the Federal Reserve. The article also touches on market sentiment, with traders adjusting their positions in anticipation of further economic data releases and central bank decisions.

Read the Full ig.com Article at:
[ https://www.ig.com/uk/news-and-trade-ideas/aud-usd--eur-gbp-drop-to-multi-year-lows-while-eur-usd-dips-241211 ]

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