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5 Jun 2013
Flash: GBP/USD at one-month highs, presenting opportunities for USD buyers – Investec
FXstreet.com (Barcelona) - The market’s changeable love affair with sterling has continued this morning, with the pound making further gains against both the euro and the dollar.
According to Lee McDarby, Corporate Treasury at Investec, “With the euro also gaining on the greenback, all signs point towards a continuance of a pull back in dollar strength that has flowed through the markets since the start of the week.” The GBP/USD is now at one-month highs, presenting fresh opportunities for dollar buyers. The theme looks set to continue throughout the day ahead of tomorrow’s Bank of England and European Central Bank rate decision meetings.
Moreover, the Eurozone has come to the forefront of market attention once again as news was released that the shared currency is set to welcome a new member. With five of its existing members on emergency aid and over a year’s worth of growth declines you need to question why countries would look to participate in the shared currency. Latvia looks set to start out on the highway to the danger zone in an effort to integrate further with the west and create space between themselves and Russia, having been under previous Soviet rule.
According to Lee McDarby, Corporate Treasury at Investec, “With the euro also gaining on the greenback, all signs point towards a continuance of a pull back in dollar strength that has flowed through the markets since the start of the week.” The GBP/USD is now at one-month highs, presenting fresh opportunities for dollar buyers. The theme looks set to continue throughout the day ahead of tomorrow’s Bank of England and European Central Bank rate decision meetings.
Moreover, the Eurozone has come to the forefront of market attention once again as news was released that the shared currency is set to welcome a new member. With five of its existing members on emergency aid and over a year’s worth of growth declines you need to question why countries would look to participate in the shared currency. Latvia looks set to start out on the highway to the danger zone in an effort to integrate further with the west and create space between themselves and Russia, having been under previous Soviet rule.