• USD sellers return and Pound takes good advantage

    The roller-coaster week ended with the greenback on the back foot and so remains as we venture into another Summer week of low liquidity conditions.

    GBPUSD held the 1.2900 support area that I highlighted on Friday and with weaker US data we've been up to 1.3114 helped by ongoing pressure on EURGBP. The pair has tested 0.8750 support(GBPEUR up to 1.1435) and still remains on the backfoot. Overall the Pound has held its own but commodity based currencies are finding even greater favour.

    EURUSD has been up to 1.1475 while USDJPY has broken back down through 112.80 and 112.50 support to post lows of 112.40. USDCHF failed into 0.9700 again but found some dip demand as buy interest on EURCHF around 1.1030 again provides support.

    The Aussie $ and Canadian $ continue to feel the love on steady commodity prices and general US$ weakness.

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

    What an amazing week-end of sport. Enough said. Simply stunning.

    Have a good week one and all.

    Interbank Rates 07.18 BST

    GBPUSD 1.3083

    EURUSD 1.1452

    EURGBP 0.8753

    GBPEUR 1.1424

    USDJPY 112.65

    AUDUSD 0.7816

    USDCAD 1.2665

    GBPAUD 1.6755

    GBPCAD 1.6570

    GBPCHF 1.2621

    GBPZAR 17.0354

    GBPHKD 10.1432

    EURHKD 8.8788

    GBPSGD 1.7926


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