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GBP/USD2014-12-18 07:47 UTC

Cable touched 15-month low of 1.5540 on the back of general dollar strength in the wake of the FOMC on Wednesday. We continue to class Cable as being in a bear trend, which has been persisting since the July cycle high at 1.7192. Resistance is now marked at 1.5600-05 and 1.5625, support at 1.5500. The August 2013 low at 1.5102 should be in the crosshairs of bears. The drop in UK inflation to a six-year low of 1.0% has strengthened the ... Read More 

XE Market Analysis

  • North American Edition2014-12-17 11:12 UTC

    The dollar traded firmer today, with AUD-USD making new four-year lows under 0.8150 and EUR-USD ebbing back to the 1.2450 area, putting over 100 pips between spot and yesterday's peak at 1.2569. USD-JPY made a peak of 117.50 before settling around 117.20-30. Russia's rouble held above yesterday's lows, aided by the Finance Ministry confirming that it had started selling foreign currency reserves, though trade continued to be volatile. Front-month NYMEX ... Read More 

  • European Edition2014-12-18 07:47 UTC

    The dollar has traded higher in the wake of the FOMC announcement and press conference, even though the Fed obscured its already convoluted statement by replacing the phrase "considerable time" with "patience" with regard the expected duration of easy policy. This seemed to prompt a dual narrative in markets, one being that the Fed remains in a dovish wait-and-see mode, which was generally the view in rallying stock markets, and the other being that the ... Read More 

  • Asian Edition2014-12-17 21:40 UTC

    The dollar generally moved higher through the morning session, as yields perked up slightly, stocks and the ruble rallied, as oil prices rose sharply. CPI was a touch cooler than forecast, while the Q3 current account deficit widened some, though had little impact ahead of the FOMC. Activity slowed into the announcement, and following the inclusion of both "patience" and "considerable time" in the statement, the dollar rallied, then fell again, with the ... Read More 

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