Investors on Edge Ahead of Greek Referendum

The dollar hasn’t moved much overnight as markets are focused on the Greek referendum which takes place this weekend. Looking ahead to potential dollar strength, the Federal Reserve is still expected to go ahead with a rate hike in September despite a mixed job report for June, economists said Friday. “We came into work this … Continue reading →

It’s a Crisis Jim, But Not As We Know It

GBP/USD is trading moderately lower ahead of the European morning as the risk sentiment took a hit in the Asian session on faltering Greece debt talks. The spot market clocked a high of 1.5751 but failed to sustain and dropped below 1.5749 The European currencies are seem to be struggling as we move into the weekend … Continue reading →

Another Crack in the Facade Hits Dollar

Sterling rose to a two-month high against the dollar on Wednesday, just days before a British election that has so far put little of the expected pressure on UK markets. Most polls show the Conservatives and the opposition Labour Party neck-and-neck before the May 7 election, making a hung parliament likely. A month of uncertainty … Continue reading →

Sterling continues to gain, hits eight week high

Despite the weaker-than-expected U.K. Gross Domestic Product (GDP) report, GBP/USD continues to carve higher highs & lows as the bullish RSI momentum gathers pace. The pound dipped firstly against the dollar yesterday after data showed that U.K. economic growth slowed more sharply than expected in the first three months of the year. However, the pair … Continue reading →

Sterling hovers near 7 week highs.

Sterling hit a seven-week high against the dollar yesterday, as some of the pessimism from uncertainty over next week’s UK parliamentary election waned with the focus on first quarter growth data due out the next day. Growth is forecast to have moderated in the first quarter, slowing to 0.5 percent from 0.6 percent, while for the year … Continue reading →

Weak US Data Bolsters Sterling.

The pound rallied to five-week highs against the broadly weaker dollar on Friday, as a weak U.S. economic report underlined concerns that the recovery is cooling, dampening expectations for higher interest rates. GBP/USD was up 0.88% to 1.5189 in late trade, the most since 6th March, bringing the week’s gains to 1.5%. Sterling shrugged off uncertainty … Continue reading →