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4 Dec 2014
GBP/USD choppy but overall unchanged
FXStreet (Córdoba) - GBP/USD stretched to fresh daily highs helped by the spike in EUR/USD and following disappointing US jobless claims figures, but it failed to sustain gains and quickly fell to retest daily lows.
GBP/USD reached a high of 1.5714 but was unable to consolidate above the 1.57 mark and fell all the way back to 1.5644 in the last choppy minutes amid Draghi’s comments and US data releases. At time of writing, GBP/USD is trading at 1.5655, 0.12% below its opening price.
From a wider perspective, GBP/USD is going through a consolidation phase at multi-month lows having lost nearly 9% from this year’s high amid expectations the Fed will hike rates before the BoE.
The Bank of England also decided on monetary policy earlier today, which turned into a non-event, as the MPC decided to keep the status quo as expected. But the week isn’t over, and investors' attention now turns to Friday’s nonfarm payrolls.
GBP/USD reached a high of 1.5714 but was unable to consolidate above the 1.57 mark and fell all the way back to 1.5644 in the last choppy minutes amid Draghi’s comments and US data releases. At time of writing, GBP/USD is trading at 1.5655, 0.12% below its opening price.
From a wider perspective, GBP/USD is going through a consolidation phase at multi-month lows having lost nearly 9% from this year’s high amid expectations the Fed will hike rates before the BoE.
The Bank of England also decided on monetary policy earlier today, which turned into a non-event, as the MPC decided to keep the status quo as expected. But the week isn’t over, and investors' attention now turns to Friday’s nonfarm payrolls.