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3 Dec 2014
USD strength drags GBP/USD down – OCBC
FXStreet (Barcelona) - The OCBC Bank Research Team feels that disappointing construction PMI and the broad USD strength led GBP/USD to fall below 1.5700 levels.
Key Quotes
“GBP-USD sliced below 1.5700 again on Tuesday under the weight of the broad dollar while the November construction PMI also disappointed at 59.4. Look to the services PMI and Osborne’s half-yearly budget update (look for economic forecast revisions) today for further cues. If the pair continues to drift towards 1.5600, the 1.5585 will beckon.“
Key Quotes
“GBP-USD sliced below 1.5700 again on Tuesday under the weight of the broad dollar while the November construction PMI also disappointed at 59.4. Look to the services PMI and Osborne’s half-yearly budget update (look for economic forecast revisions) today for further cues. If the pair continues to drift towards 1.5600, the 1.5585 will beckon.“