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Flash: GBP/USD records steadfast gains vs. G10 majors – Investec

FXstreet.com (New York) - The GBP’s good form over the past week continues with the 1.5700 and 1.1800 mark against the Dollar and Euro firmly in its sights.

Indeed, the sterling has gained 6.2% in recent months and is the best performer amongst developed market currencies according to Bloomberg over the last three months. Yesterday started with data showing a modest expansion in the UK industrial sector and disappointing manufacturing output data which slid back by 0.2% month to month, albeit on the back of a particularly strong monthly rise in March.

However, the dip in manufacturing follows on from a robust 1.1% monthly rise in March, limiting fears this could mark the start of a new downturn in the sector’s output. In fact, the UK’s manufacturing PMI has now stood in expansionary territory in both April and May. According to Lee McDarby, Corporate Treasury at Investec, “It is early, but so far the balance of evidence continues to point to UK industrial output contributing positively, albeit modestly, to Q2 output.”

Flash: USD/JPY uptrend should resume after correction subsides – ANZ

According to Tim Riddell, Head of Global Markets Research at ANZ, “The USD/JPY break below 97.00 has highlighted that correction may fit in a more standard profile and so the previous buying bias has been lowered to the market retracement zone, around 93.50-95.00.”
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US markets in red as caution prevails

US markets are trading on the back foot for the third session in a row on Wednesday, as investors remain concerned about the next steps of the US monetary policy. The greenback, in terms...
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