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GBP/USD2015-08-04 19:07 UTC

Sterling took a knock on the unexpected construction PMI dip to 57.1 in the July Markit survey from 58.1 in June. Cable dipped some 30 pips to a post-data low of 1.5570, before settling around 1.520 at the N.Y. open. The pairing struggled over the figure however, and fell into 1.5560 by mid-morning. Sterling again managed to recover to 1.5625, though hawkish Fedspeak late in the session took the dollar broadly higher, resulting in cable ... Read More 

XE Market Analysis

  • North American Edition2015-08-04 09:47 UTC

    The dollar traded mixed, moderately firmer against the euro and sterling, the latter of which dipped on an unexpectedly decline in UK construction PMI, while the greenback held steady against the yen and fell versus an outperforming Aussie dollar, which rallied after the RBA expressed that it is happier with the currency's levels in its post-policy meeting statement. EUR-USD drifted to a two-day low of 1.0932 before recouping to the mid-1.09s, Cable ... Read More 

  • European Edition2015-08-04 06:57 UTC

    The big mover today was the AUD, which rallied quite strongly, first, following better-than-expected trade and retail sales data out of Australia, and then a shift in language in the RBA statement following an a widely anticipated decision to leave the cast rate at 2.0%. The Board said in its statement that "the Australian dollar is adjusting to the significant declines in key commodity prices," removing the phrase "further depreciation seems both ... Read More 

  • Asian Edition2015-08-04 19:07 UTC

    The FX market was fairly quiet through most of the N.Y. session on Tuesday, though the dollar posted gains late in the day. The unit rallied into the close, perhaps on the back of hawkish Fed comments from Lockhart, who appeared to be itching for a rate hike in September, and as late position adjustments ahead of Wednesday's ADP report stepped in. EUR-USD had traversed a 1.0980 to 1.0945 range through the morning, before sliding to 1.0894 lows in late ... Read More 

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