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GBP/USD Fell to 1.5490 on BOE Haldane Comment and Firm Euro

Posted by Chris Advincula on Jul 27, 2015 7:01:00 AM

The sterling pound fell against the dollar from 1.5542 to 1.5490 (-52 pips) in Europe erasing the initial 25 pip gain it made at the European open against the weaker dollar. The pound fell mainly on the bearish comment of the Bank of England Chief Economist who said that there was no need for rush to raise interest rates - BBC.

Euro-sterling was also bid in the European session and rose to 0.7159 from 0.7085 (+74 pips) which added weight to cable.

 

GBP.USD.7.27 resized 600 

Chart: WorldWideMarkets Alpha Trader

Topics: GBPUSD, cable, Bank of England, forex trading, European Session, Fundamental Analysis, Sterling, BOE

 

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