4 Jul 2013
Flash: GBP/USD a victim of USD fortification – Investec
FXstreet.com (New York) - The GBP/USD continues to be the victim of the broad USD strengthening trend today, notes Lee McDarby, Corporate Treasury at Investec.
Moreover, as a shift lower below 1.3000 in the EUR/USD and a firm break back up through 100 for the USD/JPY have ensured that the gradual downward grind of GBP/USD closer to 1.5000 has continued. “Decent PMI figures this week have not halted the slide of sterling whilst GBP/EUR remains trapped in a half a cent range between 1.1640 and 1.1690.” McDarby adds.
Moreover, as a shift lower below 1.3000 in the EUR/USD and a firm break back up through 100 for the USD/JPY have ensured that the gradual downward grind of GBP/USD closer to 1.5000 has continued. “Decent PMI figures this week have not halted the slide of sterling whilst GBP/EUR remains trapped in a half a cent range between 1.1640 and 1.1690.” McDarby adds.