Please try another search
Proactive Investors - Despite looking weak in the earlier hours, Cable did an about-face in yesterday’s session and ended the day 0.6% higher at 1.220.
It was unsurprising given the general direction the greenback is headed (down, that is), and indicatively, the US Dollar Index (DXY) opened this morning’s session 0.3% lower at 104.84.
In this morning’s Asia trading window, the GBP/USD pair has inched higher to 1.221, and there is little on the economic calendar to suggest any catalyst for dramatic price action today.
GBP/USD is generally bearish as speculation of dollar top mounts – Source: tradingview.com
USD/CAD, which was on a bit of a rally leading up to the Bank of Canada’s Wednesday interest rate decision, fell back to an intraday day low of 1.358 when the bank opted for a 50 bps hike over the softer 25 bps option.
The pair is changing hands slightly lower at 1.356 in today’s Asia session.
Yesterday’s Eurozone GDP figures came in slightly higher than expected, with third-quarter growth of 0.3% beating out 0.2% forecasts.
The most vigorous growth, of 2.3%, was recorded in Ireland, with Malta and Cyprus expanding at 1.3%, while the steepest declines were in Estonia, Latvia and Slovenia.
In response, EUR/USD closed Wednesday 0.4% higher at 1.051 and has held onto that price point this morning.
While the euro closed lower against the pound, the EUR/GBP pair has so far gained 0.12% in today’s Asia trading session and is currently changing hands at 86.19p.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.