Forex: GBP/USD jitters to downside as Draghi speaks
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - GBPUSD has wobbled above the daily classic pivot point at 1.6100 and the hourly 55MA at 1.6102 as ECB President Draghi delivered his Policy Statement following the decision to keep policy rates on hold at 0.75%.
Draghi started his statement talking down inflation risks and explaining that the ECB will continue MRO at fixed rates for as long as necessary. He proceeded to explain that there is still weakness in the EZ economy but statistics indicate that a bottom may have been found. However, weakness is expected to extend into 2013. He also downgraded growth prospects amidst the backdrop of a soft global landscape.
Draghi started his statement talking down inflation risks and explaining that the ECB will continue MRO at fixed rates for as long as necessary. He proceeded to explain that there is still weakness in the EZ economy but statistics indicate that a bottom may have been found. However, weakness is expected to extend into 2013. He also downgraded growth prospects amidst the backdrop of a soft global landscape.
Free Annual Reports
