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GBP/USD2015-10-09 11:02 UTC

Sterling had the wind taken out of its sails following UK data showing an unexpected 4.3 m/m contraction in construction output, which splashed a little more paint on the Q3 picture of decelerating economic growth. The median forecast had been for a 1.0% m/m rise, while the -1.3% y/y outcome was the first negative y/y print since May 2013. Cable has stalled in the mid-1.53s despite fresh EUR-USD gains, with the pound losing ground to the ... Read More 

XE Market Analysis

  • North American Edition2015-10-09 11:02 UTC

    The dollar and yen dove against the euro, commodity currencies and a variety of emerging world currencies as a risk-on sentiment coursed through global markets. The pound was also among the underperformers following an unexpected 4.3% m/m contraction in UK construction output in August. EUR-USD rose 0.7% in piercing 1.1360 for the first time since Sept-18. The run was sparked by above-forecast French production numbers, data not normally a euro mover ... Read More 

  • European Edition2015-10-09 06:35 UTC

    Commodity currencies have rallied, along with various Asian and other emerging world currencies at the expense of the dollar, yen, euro and other majors. This theme has been fuelled by a risk-on environment after the FOMC minutes from the mid-September meeting effected a further lengthening of odds for a Fed rate hike by year end. The minutes showed that "several members" were worried that downside risk to growth and inflation have increased due to ... Read More 

  • Asian Edition2015-10-08 18:46 UTC

    FX trade was relatively quiet in N.Y. on Thursday morning, as the dollar put in another mixed performance, though ended the day slightly underwater overall. A slightly smaller than expected jobless claims outcome helped the dollar marginally early on, though position squaring became evident into the FOMC minutes release. The minutes didn't provide any clear insight into rate hike timing. For most every hawkish indication, there was an offsetting ... Read More 

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