Flash: GBP/USD may continue to bounce around in a 1.5950 – OCBC

FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank, suggests that the GBP/USD may continue to bounce around in a 1.5950-1.6260 band in the near term pending further cues (note BOE MPC tomorrow) with the pair still reaping underlying support from UK data releases.

“Note however renewed dollar vulnerability in early Wednesday trade in Asia, plausibly on news that President Obama is expected to announce Janet Yellen’s nomination as the next Fed governor.”