FXstreet.com (Córdoba) – Despite moving away from session lows against commodity currencies, Cable reached fresh lows against its European rivals and the Yen while GBP/USD failed to hold above 1.6300 and fell below 1.6270, approaching daily lows.
The Pound weakened earlier across the board following inflation data in the UK and after pulling back, started to fell once again as stocks in the US decline, with the Dow Jones reaching weekly lows.
The EUR/GBP broke above 0.8900 for the first time since October of last year and is approaching to 0.8940; if it rises further it would be trading at the highest level in a year.
Against the Swiss Franc and the Yen, the Pound is currently at daily lows. GBP/CHF has fallen more than 300 pips since the beginning of the week and at the moment trades below 1.4550 while GBP/JPY is back below 136.00, looking for a new low.
The Pound only managed to hold against AUD, CAD and NZD; the three currencies weakened considerably in the last hours amid a decline in commodity prices and risk aversion.
The Pound weakened earlier across the board following inflation data in the UK and after pulling back, started to fell once again as stocks in the US decline, with the Dow Jones reaching weekly lows.
The EUR/GBP broke above 0.8900 for the first time since October of last year and is approaching to 0.8940; if it rises further it would be trading at the highest level in a year.
Against the Swiss Franc and the Yen, the Pound is currently at daily lows. GBP/CHF has fallen more than 300 pips since the beginning of the week and at the moment trades below 1.4550 while GBP/JPY is back below 136.00, looking for a new low.
The Pound only managed to hold against AUD, CAD and NZD; the three currencies weakened considerably in the last hours amid a decline in commodity prices and risk aversion.
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