This is the most important news in the Forex market today.
GBP/USD keeps soaring, with focus on 1.42 mark
On Wednesday, the currency pair GBP/USD pair maintained its firm bid tone and in the last hour the pair managed to inch up to 1.4200.
Remarks from the US Treasury Secretary Steven Mnuchin, backing a weaker US dollar, kept applying downward pressure on the greenback and brought it to the lowest value for 3 years.
Versus the backdrop of optimism over a favorable divorce with the European Union, the currency pair showed a firm up-move today, underpinned by better-than-anticipated British wage surge data.
As for the bulls, they took a breather close to the mark 1.4200, with excessively overbought conditions encouraging some profit-taking following the pair's recent ascend of nearly 350-pips for the last three trading sessions.
Market participants are currently waiting for the publication of flash American PMI prints that along with the existing home sales report would ensure some trading impetus.
During today's press conference, the ECB president said that the data was "somewhat" better than the expectations in the first quarter. T
Australia will release the level of employment change and unemployment rate on June 13, at 4:30 MT time.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…