GBP/USD falls further below 1.7000

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The US dollar gained momentum during the American session and pushed the GBP/USD further to the downside. Recently printed a fresh daily low at 1.6964.



The pair remains near the lows, down 0.32% for the day so far, falling for the second time out of the last three trading days, pulling back after climbing to multi-year highs last week at 1.7061.



Bank of England Governor weakens GBP/USD



Cable is among the worst performers in the currency market, weakened after Carney’s remarks during the presentation of the Inflation Report.



Kit Juckes, Global Head of Currency Strategy at Societe Generale noted that Carney prompted a rethink about the timing of UK rate hikes, sending sterling higher even after months of gains. “We have long been looking for a peak in a 1.65 - 1.70 range a breakthrough 1.72 would see a bigger and probably more sustained spike” said Juckes.



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