• Pound ending the week in positive mood

    It's been a roller coaster ride this week but the Pound has proved resilient to a couple of kicks lower and currently heading higher again.

    GBPUSD held 1.2880 yesterday and is currently posting 1.2955 after repelling another attempt to get back below 1.2900 with traders keen to take some money off the table ahead of the week-end. EURGBP is driving the move again and has fallen further to test 0.8800 support(GBPEUR up to 1.1365) as the Euro's early week demand continues to be sold into. Overall the Pound has held its own too in what has been a mixed bag for other currencies with no specific trend prevailing.

    EURUSD fell to 1.1370 yesterday only to find a few buyers in that dip but has since struggled to get back over 1.1420. USDJPY survived another look below 113.00 but has rallied again to post 113.58 and USDCHF has also found some dip demand but rallies capped by sell interest on EURCHF around 1.1030 after holding 1.1000.

    The Aussie $ and Canadian $ continue to feel some love on steady commodity prices and the BOC's interest rate hike this week.

    Don't forget to place your orders to maximize gains/minimize losses as these fickle markets continue.

    Have a good week-end one and all.

    Interbank Rates 06.10 BST

    GBPUSD 1.2952

    EURUSD 1.1405

    EURGBP 0.8800

    GBPEUR 1.1362

    USDJPY 113.44

    AUDUSD 0.7744

    USDCAD 1.2733

    GBPAUD 1.6732

    GBPCAD 1.6500

    GBPCHF 1.2528

    GBPZAR 17.0972

    GBPHKD 10.0417

    EURHKD 8.8380

    GBPSGD 1.7806


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