8 Dec 2014
GBP/USD recovery halted near 5-DMA
FXStreet (Mumbai) - The British Pound continues to trade strong against the US dollar, although the sharp recovery from the day’s low has been halted near the 5-DMA level located at 1.5637.
The GBP/USD pair now trades 0.19% higher at 1.5614 levels. The pair hit a high of 1.5635 before easing-off a bit to 1.5614 levels. No major data out of the US or the UK is due for release today. Moreover, the initial weakness was largely driven by the Friday’s surprisingly strong US Non-farm payrolls data. The US 10-yr treasury yields now trade 3 basis points lower from the day’s high of 2.347% to 2.317%. Meanwhile, the UK 10-yr Gilt yield trades at the day’s low of 2.002%.
The cable may take cues from the Bank of England (BOE) member Gracie's speech at Amsterdam scheduled at GMT 16:45.
The GBP/USD pair now trades 0.19% higher at 1.5614 levels. The pair hit a high of 1.5635 before easing-off a bit to 1.5614 levels. No major data out of the US or the UK is due for release today. Moreover, the initial weakness was largely driven by the Friday’s surprisingly strong US Non-farm payrolls data. The US 10-yr treasury yields now trade 3 basis points lower from the day’s high of 2.347% to 2.317%. Meanwhile, the UK 10-yr Gilt yield trades at the day’s low of 2.002%.
The cable may take cues from the Bank of England (BOE) member Gracie's speech at Amsterdam scheduled at GMT 16:45.