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GBP/USD2014-10-20 18:28 UTC

Cable opened the week on a steady footing in London, consolidating near 1.6100 after recovering from last Wednesday's 11-month low at 1.5874. M.Y. trade saw the pairing move up over 1.6175, as the dollar overall faded versus the European major currencies. We remain bearish, and have been targeting Cable to the November 2013 low at 1.5854, and more generally anticipate that the pound will establish a trading band in the mid-to-upper 1.59s. Read More 

XE Market Analysis

  • North American Edition2014-10-20 10:12 UTC

    The dollar arrived at noon in Europe at near net-unchanged levels against most currencies. USD-JPY was an exception amid a bout of general yen weakness in Tokyo trade. Japan's Nikkei surged nearly 4% on news that Japan's Government Pension Investment Fund is rising the ratio of domestic stocks to 25% from 12% (plus or mines six percentage points). This backdrop saw the yen weaken, as per the usual inverse correlation the currency has with stock markets. ... Read More 

  • European Edition2014-10-20 07:17 UTC

    The dollar was mostly firmer, led by USD-JPY amid yen underperformance, though the greenback lost ground to the AUD and NZD, which picked up amid a bullish equity market session in Asia. Japan's Nikkei surged nearly 4% on news that Japan's Government Pension Investment Fund is rising the ratio of domestic stocks to 25% from 12% (plus or mines six percentage points). This backdrop saw the yen weaken, as per the usual inverse correlation the currency has ... Read More 

  • Asian Edition2014-10-20 18:28 UTC

    FX trade was relatively quiet in N.Y. on Monday, with a lack of U.S. data to drive the dollar. Overall, the USD was mixed, losing modest ground to the European majors, as it moved sideways versus the ten, and advancing against the CAD. Yields were steady, while Wall Street moved higher, though the DJIA underperformed as a result of Dow-component IBM selling off sharply on missed earnings. EUR-USD based at 1.2750, moving higher through the session, before ... Read More 

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