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18 Mar 2016
GBP/USD: was quite a show overnight, best performer
GBP/USD stile the show today, along with NZD and NOK. The greenback was the worst off post the FOMC's dovishness yesterday and subsequent sell-off.
The pound made a high of 1.4505 earlier in the London afternoon while earlier in the day, the BoE held rates as expected at 0.5% with a unanimous 9-0 vote. (BOE MPC voted 9-0 to keep rates unchanged) However, markets are more behind dumping the greenback and
while at the same time, cable had a bullish platform on the BoE's that was not as dovish as expected and commodities and oil were also supporting the bid.
GBP/USD spikes to 1.4480 in an impulsive move
BOE minutes – Rates expected to rise more gradually
GBP/USD levels
Sterling cleared through the 55 dma at 1.4326 with ease overnight and went to score fresh highs after just a small fade on the 1.44 handle before bulls committed and too the pair right onto the 1.45 handle for a 281 pip gain on the day. The grind now will need to get through the 14th highs first at 1.4534 and then the start of Feb highs at 1.4666.
The pound made a high of 1.4505 earlier in the London afternoon while earlier in the day, the BoE held rates as expected at 0.5% with a unanimous 9-0 vote. (BOE MPC voted 9-0 to keep rates unchanged) However, markets are more behind dumping the greenback and
while at the same time, cable had a bullish platform on the BoE's that was not as dovish as expected and commodities and oil were also supporting the bid.
GBP/USD spikes to 1.4480 in an impulsive move
BOE minutes – Rates expected to rise more gradually
GBP/USD levels
Sterling cleared through the 55 dma at 1.4326 with ease overnight and went to score fresh highs after just a small fade on the 1.44 handle before bulls committed and too the pair right onto the 1.45 handle for a 281 pip gain on the day. The grind now will need to get through the 14th highs first at 1.4534 and then the start of Feb highs at 1.4666.