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15 May 2015
GBP/USD hits daily highs above 1.5800
FXStreet (Córdoba) - GBP/USD advances toward fresh daily highs as the greenback weakened broadly and surrendered intraday gains following the release of disappointing economic data.
GBP/USD rose more than 100 pips at the beginning of the New York session and reached a high of 1.5808 but faltered ahead of Thursday’s high standing at 1.5814 as the London session drafts to an end.
At time of writing, Cable is trading at the 1.5775 area, virtually unchanged on the day, having recovered from a low of 1.5700 scored during the European session.
The dollar was staging a nice comeback but failed to sustain gains following weak industrial and confidence data.
The pound is on track to close its second week with gains versus the dollar, mainly driven by USD weakness and an unexpected Tory majority in UK election.
GBP/USD rose more than 100 pips at the beginning of the New York session and reached a high of 1.5808 but faltered ahead of Thursday’s high standing at 1.5814 as the London session drafts to an end.
At time of writing, Cable is trading at the 1.5775 area, virtually unchanged on the day, having recovered from a low of 1.5700 scored during the European session.
The dollar was staging a nice comeback but failed to sustain gains following weak industrial and confidence data.
The pound is on track to close its second week with gains versus the dollar, mainly driven by USD weakness and an unexpected Tory majority in UK election.