16 Jan 2015
GBP/USD heading for weekly lows?
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5113 with a high of 1.5237 and a low of 1.5112 and down 0.39% on the day.
GBP/USD is weak, or rather, the greenback is strong. The pair has been making fresh lows this month and penetrating the 1.51 handle for the low of 1.5034 made on the 8th and attempts to the upside have been capped at 1.52671.
The recent turmoil in markets post the SNB has seen the dollar start to benefit as analyst begin to predict that the outcome of the events are likely dollar favourable while positive data underpins a bullish bias in the currency. Earlier today, CPI was released at 0.8% vs 0.7% consensus and the recent release of the Michigan Consumer Sentiment beat expectations at 98.2 vs 94.1 expected.
GBP/USD is weak, or rather, the greenback is strong. The pair has been making fresh lows this month and penetrating the 1.51 handle for the low of 1.5034 made on the 8th and attempts to the upside have been capped at 1.52671.
The recent turmoil in markets post the SNB has seen the dollar start to benefit as analyst begin to predict that the outcome of the events are likely dollar favourable while positive data underpins a bullish bias in the currency. Earlier today, CPI was released at 0.8% vs 0.7% consensus and the recent release of the Michigan Consumer Sentiment beat expectations at 98.2 vs 94.1 expected.