EU Exit Fears Hit Sterling
Wall Street finished lower for the fourth straight session as investors worry about the upcoming EU exit referendum in Britain. The Dow Jones fell by 0.33%, the S&P 500 by 0.18%, and the NASDAQ lost 0.10% from its value. Twitter shares rose by 5.57%, closing at $15.40.
The U.S. Dollar traded higher against most major currencies due to the release of upbeat U.S. retail sales data. Today, high volatility can be expected during the Federal Open Market Committee announcement at 19:00 GMT.
Gold rose, closing at $1,285 an ounce. Crude Oil fell, closing at $47.82 a barrel.
The euro dropped versus the dollar as the German 10-Year Bunds slipped into negative. Technically, according to the daily chart, the pair is trading in a triangle pattern. Breaking below the lower side of the triangle could lead the EUR/USD to around 1.0850, while breaching the upper side may take it towards 1.1500.
The Pound fell versus the dollar, closing at 1.4121 on fears of the prospect of a British exit from the EU. Technically, according to the 8-hour chart, the pair is trading above the support line at 1.4080. Holding above this line could take the GBP/USD towards 1.4400, while breaking below may lead the pair towards 1.3800.