7 Jul 2015
GBP/USD turns around and recovers ground into the NY close
FXStreet (Córdoba) - GBP/USD has recovered some ground toward the end of the New York session as stocks edged up and the euro shoot higher amid hopes of a Greek deal this weekend.
Risk aversion eased during the American trade amid reports Greece is seeking a bridge arrangement to last until the end of the month while negotiate a longer-term bailout via the ESM. Speculation is that a summit could be called on Sunday.
Although the pound lagged behind the euro, GBP/USD moved in tandem with EUR/USD and reached a session high of 1.5485, regaining the 200-day SMA. At time of writing, Cable is trading at 1.5462, still 0.89% below its opening price.
GBP/USD bottomed out at 1.5413 earlier on the day, as risk aversion benefitted the dollar and other safe-haven assets.
Risk aversion eased during the American trade amid reports Greece is seeking a bridge arrangement to last until the end of the month while negotiate a longer-term bailout via the ESM. Speculation is that a summit could be called on Sunday.
Although the pound lagged behind the euro, GBP/USD moved in tandem with EUR/USD and reached a session high of 1.5485, regaining the 200-day SMA. At time of writing, Cable is trading at 1.5462, still 0.89% below its opening price.
GBP/USD bottomed out at 1.5413 earlier on the day, as risk aversion benefitted the dollar and other safe-haven assets.