Back
7 Jan 2014
Flash: GBP/USD edges higher despite PMI disappointment - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank notes that GBP/USD managed to edge higher despite the disappointing December services PMI reading of 58.8.
Key Quotes
“Note however that supportive PMIs out of the EZ however pulled the EUR-GBP higher on the day.”
“Going ahead, the potential positive dollar dynamic in the coming sessions may temper excessive upside for the GBP/USD while any further jawboning out of the BOE may also weigh on the pound. At this juncture, we think the pair may gravitate lower within a 1.6300-1.6500 band.”
Key Quotes
“Note however that supportive PMIs out of the EZ however pulled the EUR-GBP higher on the day.”
“Going ahead, the potential positive dollar dynamic in the coming sessions may temper excessive upside for the GBP/USD while any further jawboning out of the BOE may also weigh on the pound. At this juncture, we think the pair may gravitate lower within a 1.6300-1.6500 band.”