23 Dec 2014
GBP soft after UK data, RUB stable – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team shares that downside revision of the UK Q3 GDP reading to 2.6% weakened the GBP/USD pair, while Ruble continued to stabilize on CBR's support.
Key Quotes
“Year-end conditions put FX markets into the doldrums ahead of the Christmas break but there were a few exceptions”
“The GBP was softer in the latter part of the European morning after UK Final Q3 GDP YoY reading was revised lower (2.6% vs. 3.0% prelim) and its current account registered if largest deficit on record. GBP/USD approached the 1.5550 level after the data release.”
“The RUB currency (Russian Ruble) continued to stabilize from the record lows that were hit just a week ago. USD/RUB pair approached the 54 level as Russia govt continued to look at implementing measures to support its currency. Russia Central Bank held consultations with various key exporters on hard currency revenue sales.”
Key Quotes
“Year-end conditions put FX markets into the doldrums ahead of the Christmas break but there were a few exceptions”
“The GBP was softer in the latter part of the European morning after UK Final Q3 GDP YoY reading was revised lower (2.6% vs. 3.0% prelim) and its current account registered if largest deficit on record. GBP/USD approached the 1.5550 level after the data release.”
“The RUB currency (Russian Ruble) continued to stabilize from the record lows that were hit just a week ago. USD/RUB pair approached the 54 level as Russia govt continued to look at implementing measures to support its currency. Russia Central Bank held consultations with various key exporters on hard currency revenue sales.”