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The dollar’s advance continues unabated, with EUR/USD hitting a new 12-month low during this morning’s Asian session.
Stay up-to-date with the latest market analyses from our currency experts.
Stay up-to-date with the latest market analyses from our currency experts.
Stay up to date with our latest market analyses from our currency experts.
Stay up-to-date with the latest market analyses from our currency experts.
GBP/USD has pushed higher this morning as stock market gains saw the dollar weaken. GBP/USD briefly touched 1.27 for the first time since February 2nd aided by some stellar results from tech giant Nvidia which helped push all major stock markets into positive territory. When stocks advance then the safe haven dollar tends to weaken, and this was seen earlier this morning before the pound pared its gains. From the UK we had the monthly PMI results with the important Services reading coming in a touch above estimates at 54.3 v expectations of 54.2. This better-than-expected print was tempered somewhat by the Manufacturing number missing the target at 47.1 versus the expected 47.5. GBP/USD has slipped back to around 1.2670 and GBP/EUR is around 1.1680 continuing to trade in its recent range.
