GBP-USD stabilizes around 13050
- George Solotarov
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- MARKETS NEWS
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The pair continued sliding down from quarterly highs and remains under
American Depositary Receipt (or ADR, for short). This is a way of allowing shares of foreign companies to be traded in the USA. In this case, the use of their local stock exchanges is not required.
For ADRs to be traded on U.S. exchanges, just like U.S. shares, a financial institution (usually a U.S. bank) buys in bulk a large number of shares of a particular company and then reissues them on the stock exchange.
Acquisitions of companies are made by other companies, usually for growth purposes.
This is done in two ways: aggressive or friendly.
The aggressive way is when one company buys out most of the shares of another company (controlling interest).
Whereas a friendly way is to sell by appointment.
The dollar is traded in a mixed way.
The Reserve Bank of New Zealand announced that the base interest rate will remain at 1%. After this event, the NZD/USD rose to an intraday high. Also one of the factors reducing the risks is the optimistic mood regarding the current monetary policy of the US Federal Reserve Chairman Jerome Powell. On Tuesday he expressed his position while praising economic development.