3 Dec 2014
Merger and acquisition talk supports greenback - Investec
FXStreet (Guatemala) - Jonathan Pryor, Corporate Treasury Analyst at Investec noted conditions surrounding recent events in the forex space up until today’s events.
Key Quotes:
"Yesterday started with UK Construction PMIs which came in softer than expected at 59.4 from an expected 61. This weakened the Pound which fell below 1.5700 against the US Dollar keeping it firmly within the current 1.5580 - 1.5830 range."
"The US Dollar also strengthened against the Japanese Yen after merger and acquisition talk spurred the pair to record new multi-year highs above 119.00. This triggered Dollar buying across the board as the US Dollar index printed new highs and we have seen the Euro and Pound move into the 1.23 and 1.56 handles respectively against the Dollar."
Key Quotes:
"Yesterday started with UK Construction PMIs which came in softer than expected at 59.4 from an expected 61. This weakened the Pound which fell below 1.5700 against the US Dollar keeping it firmly within the current 1.5580 - 1.5830 range."
"The US Dollar also strengthened against the Japanese Yen after merger and acquisition talk spurred the pair to record new multi-year highs above 119.00. This triggered Dollar buying across the board as the US Dollar index printed new highs and we have seen the Euro and Pound move into the 1.23 and 1.56 handles respectively against the Dollar."