Session Recap: USD mixed, GBP shines

By FXstreet.com | July 02, 2014 AAA

FXStreet (Córdoba) - The dollar trades mixed across the board with the pound outperforming once again after another solid PMI report.

The GBP/USD climbed to a new post-financial crisis high of 1.7176 after solid UK construction data and it was crowned as the best performer. Meanwhile, EUR/GBP dragged the EUR/USD to session lows around 1.3650.

The USD/JPY reversed earlier gains and turned negative, while the AUD/USD is on the defensive after peaking above 0.9500, weighed by a much wider-than-expected trade deficit.

Elsewhere, European stocks inched higher while US futures point to a flat open.

The focus during the North American session will be on the ADP report while Fed’s Yellen speech will attract markets' attention. However, investors could chose to remain sidelined ahead of ECB meeting and US nonfarm payrolls due tomorrow.

Main Headlines in Europe:

Spain Unemployment Change came in at -122.7K below forecasts (-97.3) in June

United Kingdom PMI Construction above forecasts (59.5) in June: Actual (62.6)

European stocks rise after new record highs in US

EMU: Annual GDP up 0.9% in Q1

What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank

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