GBP/USD hit fresh lows below 1.6600 on slightly hawkish FOMC minutes

By FXstreet.com | Updated August 20, 2014 AAA

FXStreet (Córdoba) - The US dollar gained momentum across the forex market following the FOMC minutes pushing the GBP/USD below 1.6600. The pair hit a fresh 4-month low at 1.6588.



Cable was rising against the US dollar supported by minutes from the Bank of England, but erased all gains and turned lower after Fed minutes that showed a hawkish bias, as some officials mentioned that a rate hike could come sooner, depending on economic data.



Currently the GBP/USD is trading around 1.6600, slightly lower for the day but still headed toward the lowest close since early April.



You May Also Like

Related Forex Analysis
  1. Forex News

    GBP/USD consolidates daily gains

  2. Forex News

    US Dollar Once Again Looks like a Buy versus Euro, Major Currencies

  3. Forex News

    British Pound Forecast Calls for Further Weakness

  4. Forex News

    GBP/USD holds above 1.5600

  5. Forex News

    GBP/USD trims half of yesterday's losses

Trading Center