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Forex: GBP/USD breaches 1.5200

FXstreet.com (Barcelona) - The sterling is resuming its depreciation against the greenback after the BoE Quarterly Inflation Report, the last one by Governor M.King, leaving behind the key support at 1.5200 to print fresh 6-week lows around 1.5175/80.

In the opinion of Phil McHugh, Senior Analyst at Currencies Direct, “In the longer term, the pound is expected to fall in line with what will be a more dovish Bank Of England under the governance of Mark Carney. Interest rates will not rise until late 2016, while the fall in inflation will allow more flexibility, which limits the upside potential for the pound”.

The cross is now losing 0.21% at 1.5176 with the immediate support at 1.5128 (61.8% of 1.4832-1.5607) followed by 1.5034 (low Apr.4).
On the upside, a breakout of 1.5331 (high May14) would aim for 1.5392 (MA21d) en route to 1.5419 (MA10d).

EUR/JPY leveling out over the 132.00 handle

EUR/JPY was mirroring the USD/JPY in this mornings buy fix with highs 132.40 but is now settling back in afternoon trade as EUR/USD is testing session lows.
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