Back
11 Sep 2013
Flash: GBP/USD is rising to its highest level since mid-June- BTMU
FXstreet.com (Athens)-Lee Hardman, FX strategist at The Bank of Tokyo-Mitsubishi UFJ, notes that the pound is trading on a firmer footing heading into the report with GBP/USD rising to its highest level since mid-June.
Key Quotes:
“The next key resistance levels are 1.5738 and 1.5752 which are the 200-week moving average and the intra-day high from the 17th June.”
“A successful break could see a final lurch higher towards the 1.60-level although upside beyond will prove much more difficult, with market expectations for the timing of the first BoE rate hike appearing increasingly farfetched. “
“Dovish MPC Miles is also scheduled to speak later today and may display some concern over higher UK rates.”
Key Quotes:
“The next key resistance levels are 1.5738 and 1.5752 which are the 200-week moving average and the intra-day high from the 17th June.”
“A successful break could see a final lurch higher towards the 1.60-level although upside beyond will prove much more difficult, with market expectations for the timing of the first BoE rate hike appearing increasingly farfetched. “
“Dovish MPC Miles is also scheduled to speak later today and may display some concern over higher UK rates.”