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5 Jul 2013
GBP/USD records third weekly loss in a row
FXstreet.com (Córdoba) - The GBP/USD is about to close the week around 1.4900, having dropped over 400 pips from the 1.5300 area where it peaked on Wednesday.
GBP/USD weighed by Carney and NFP
At its first meeting as BoE Governor, Carney came across and provided forward guidance, which markets understood as a sign the Bank of England is not ready to tighten its policy just yet.
GBP/USD entered a tailspin that was fueled on Friday by the nonfarm payrolls report, which on the other hand, supports the idea the Federal Reserve could taper its own program later this year.
GBP/USD falls 2% this week
GBP/USD fell 2 big figures and broke below the major 1.5000 mark, printing a 4-month low of 1.4856 before bouncing. At time of writing, GBP/USD is trading around 1.4900, down 1.1% on the day and on track to record its third weekly loss in a row, this time for 2%, after being capped by the 100-week SMA around 1.5750. This will be the lowest weekly close since 2010.
GBP/USD weighed by Carney and NFP
At its first meeting as BoE Governor, Carney came across and provided forward guidance, which markets understood as a sign the Bank of England is not ready to tighten its policy just yet.
GBP/USD entered a tailspin that was fueled on Friday by the nonfarm payrolls report, which on the other hand, supports the idea the Federal Reserve could taper its own program later this year.
GBP/USD falls 2% this week
GBP/USD fell 2 big figures and broke below the major 1.5000 mark, printing a 4-month low of 1.4856 before bouncing. At time of writing, GBP/USD is trading around 1.4900, down 1.1% on the day and on track to record its third weekly loss in a row, this time for 2%, after being capped by the 100-week SMA around 1.5750. This will be the lowest weekly close since 2010.