Archive for the ‘Pound’
GBP/USD jumps to session high after Payrolls reportc
The Pound has jumped about 70 pips higher against the Dollar, breaking above 1.5915/25 resistance area to session high levels, right below 6-month high at 1.5970, after the release of disappointing US Non Farm Payrolls data. The Pound has reached levels right below 1.5970 (Aug 3/4 high), and, in case of further rally, next resistance [...]
Sterling Falls After Interest Rates Remained at Low Level
The Great Britain pound fell today after the central bank’s policy makers kept the interest rates at the low level, despite the concerns that the inflation may accelerate. The pound was rising the last month on the outlook that the budget cuts wouldn’t cripple the Britain’s economy. The outlook became less optimistic after the Bank of England left the benchmark rate at 0.5 percent. As Neil Mellor, the currency strategist at the Bank of New York Mellon Corp., [...]
GBP/USD rises back above 1.5100
The Pound found support at weekly lows around the 1.5070/80 zone. The pair rebounded and rose back above 1.5100 after the US opening bell. Currently is testing levels above 1.5120, still down for the day and continues to move sideways, in a range between 1.5070 and 1.5240. “Pound slump approached to the base of the [...]
Pound Falls on Concerns for Budget Cuts
The Great Britain pound weakened today as the shop prices rose in June less than in may, adding to the concern that the budget cuts would slow the economic growth. According to the British Retail Consortium, the overall shop price index declined to 1.5% in June from 1.8% in May. Does that mean that the fears of the austerity measures strangling the economy proved true? We should yet to see, but for now, the sterling reacts badly [...]
US Dollar Weakens Against Pound and Yen
While EURO fell today, we still can see another remarkable downward with the U.S Dollar. As the US economic didn’t rise as what they expected, we can notice that U.S Dollar now is weakened against Pound and Yen.