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All eyes on ECB

05/06/2014 | OzForex

United States Dollar: It looked as though it was going to be a quiet day for the pound yesterday – it wasn’t really. UK Services PMI printed in line with expectations/very slightly better than market expectations at 58.6 in May. GBP/USD broke higher on the news, up ...
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Weak EZ inflation reinforces expectations for ECB action on Thursday

04/06/2014 | OzForex

United States Dollar: GBP/USD has settled lower over the last 24 hours. UK Construction PMI set the tone yesterday morning after it printed weaker than market expectations, easing to 60.0 in May, its lowest level in seven months. GBP/USD dropped from 1.6775 to 1.6760, almost ...
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All quiet in FX rates as markets bide time ahead of the ECB announcement

03/06/2014 | OzForex

United States Dollar: UK Manufacturing PMI printed as expected yesterday morning. The pound was sold off as investors were looking for the number to beat expectations - this might have reignited calls for an earlier rate hike (as opposed to the much anticipated April/May) but ...
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GBP/USD limps in to June as investors look for some much needed direction

02/06/2014 | OzForex

United States Dollar: GBP/USD limped to a finish on Friday. It was the end of the month and we witnessed a bit of a short squeeze in GBP/USD on the day. The pair found good support close to and around 1.6730 and traded up to a high of 1.6775. There was no economic data out from ...
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Weak US data shrugged off as investors look forward

30/05/2014 | OzForex

United States Dollar: GBP/USD slipped under 1.67 again yesterday morning amid a lack of any top tier UK economic data, but then found solid support and rallied back to 1.6735 as investors locked in a bit of profit. Cable then settled around 1.6720 as markets looked ahead to ...
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GBP/USD tests a break below 1.67 ahead of US GDP data

29/05/2014 | OzForex

United States Dollar: The pound continued to slide yesterday. Month end related buying in EUR/GBP has accelerated the losses in cable and the pair has broken down through stop loss levels. It fell to a low of 1.6699 yesterday, the move also being prompted in part by BoE Governor ...
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Dollar stronger in reaction to strong data

28/05/2014 | OzForex

United States Dollar: GBP/USD has lost quite a bit of ground over the last 24 hours, falling from 1.6880 to a low of 1.6763. It opens close to this low this morning. The news that Pfizer had pulled out of the running to buy AstraZeneca dragged on the pound, a somewhat delayed ...
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Markets back in full swing after long weekend

27/05/2014 | OzForex

United States Dollar: UK It was a public holiday in the UK and US on Monday and so there wasn’t much activity in FX markets or movement in GBP/USD. The pair traded a narrow range between 1.6835 and 1.6851. News that Pfizer was no longer set to buy AstraZeneca and the MEP ...
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Euro continues its slide as data disappoints

23/05/2014 | OzForex

United States Dollar: UK 2nd Estimate GDP printed in line with expectations yesterday at 0.8% but it was the weak public sector borrowing data that took markets by surprise. UK government borrowing rose sharply in April to £11.5bn, up from £1.9bn y/y. Investors were ...
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Euro continues to feel the pain as rate cut expectations grow

22/05/2014 | OzForex

United States Dollar: UK Retail Sales beat expectations yesterday with an m/m jump of 1.3%, far exceeding the forecast of 0.4%. All stores except petrol stations saw an increase in sales with April ’14 showing an increase of 6.9% from April ’13. With UK house prices ...
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