Pennies stacked on top of market performance papers
Markets

EURGBP demand helps to cap cable

The strong GBPUSD rally has been halted around 1.4450.

I highlighted the offers up there with more into 1.4500. EURGBP demand into 0.7830 kicked in at the same time and we've since been back to 1.4383 and 0.7871.

Some month-end EURGBP buying, or front running at least, cannot be ruled out but the better German regional CPI data has also helped put a spring in the euro step this morning. Offers around 0.7880 and more at 0.7900

Month-end GBPUSD demand still expected and we may yet have a look at 1.4500 but I still prefer to be selling into rallies.

Currently 1.4395 and 0.7865

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx

Latest Markets Videos