GBP/USD falls further below 1.7000

By FXstreet.com | June 24, 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.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD claws to 1.6100 ahead of Europe
    Forex News

    GBP/USD claws to 1.6100 ahead of Europe

  2. EUR/USD glued to 1.2755; triggers are wanted
    Forex News

    EUR/USD glued to 1.2755; triggers are wanted

  3. Asia recap: most majors are still sleeping in a ranges; JPY is weakening
    Forex News

    Asia recap: most majors are still sleeping in a ranges; JPY is weakening

  4. Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure
    Forex News

    Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure

  5. US Dollar Technical Analysis: Stalling at Channel Support
    Forex News

    US Dollar Technical Analysis: Stalling at Channel Support

Trading Center