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4 Mar 2015
GBP/USD drops further to 2-week lows
FXStreet (Córdoba) - Cable continued to decline weakened by UK data and bottomed at 1.5324, reaching the lowest price since February 17. The Services PMI dropped from 57.2 to 56.7; analyst were expecting a modest increase. The economic numbers pushed the pound to the downside across the board.
The GBP/USD pair moved off session lows recently and climbed to 1.5340. Currently trades at 1.5335, down 0.20%, falling for the third day in a row. Price has fallen below the daily 20-SMA for the first time in a month.
GBP up vs EUR, CHF
Despite falling against the US dollar, the pound is the best performer among European currencies on Wednesday and reached 7-year high versus the euro and 6-week highs against the Swiss franc.
The GBP/USD pair moved off session lows recently and climbed to 1.5340. Currently trades at 1.5335, down 0.20%, falling for the third day in a row. Price has fallen below the daily 20-SMA for the first time in a month.
GBP up vs EUR, CHF
Despite falling against the US dollar, the pound is the best performer among European currencies on Wednesday and reached 7-year high versus the euro and 6-week highs against the Swiss franc.