|09-10-2014, 06:19 PM||#1|
Calm trading amid absence of economic data
Calmness dominated the scene in today’s trading amid the absence of economic data from the United States.
Perhaps the key movements were on the sterling following trade balance and industrial production data for July as well as comments from BOE Governor Mark Carney.
The GBPUSD rose to hit a peak of 1.6155 then retreated back near the session’s opening at 1.6100, while the session’s low was hit at 1.6062.
Reports released today showed that UK trade deficit widened the most since April 2012 while industrial production rose more than forecasts.
Mark Carney, thereafter, said the BOE may raise interest rates by spring next year as recovery in wage growth moves smoothly.
Worries about a possible secession to Scotland from the United Kingdom continued ahead of a critical Sep. 18 referendum.
The dollar index, which tracks the green currency’s movements versus a basket of major currencies, inched down after setting a new high of 84.51.
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