Currency Round-Up: How the US Election Affected Major CurrenciesNovember 11, 2016 3:58 pm
The Pound soared this week after the US election and result that celebrity-outsider, Donald Trump, will become the next US President.
A commodity currency is a name given to currencies of countries which depend heavily on the export of certain raw material for income. The AUD, NZD and CAD all fit under these categories which will remain weak against the pound sterling.
Prior to the result of the US election we saw the EUR gain a lot of strength. However we saw EUR/USD quickly fall on Wednesday when the official result was announced. Nigel Farage was quick to fly out to the US after Trump said publicly he was fond of the UK leaving the EU. Trump seems to have a dislike towards the EU which is resulting in a negative impact on the EUR currency itself.
The big news this week was that President Elect, Donald Trump, has won the US Elections. Stock markets and Forex markets saw the USD fall massively overnight on Wednesday, however towards the end of this week markets remain steady and currency has returned to normal gains. The USD has weakened against the GBP slightly since the results.
Categorised in: News
This post was written by Kayleigh Driscoll