Free Trial

GBP Fades Amid Particularly Light Volumes

GBP
  • GBP slips slightly in recent trade, putting GBP/USD at fresh intraday lows but still well clear of Friday's lowest levels. Downtick in GBP/USD has been amid only light volumes, with smaller clips evident on the ebb from 1.2020 to the new low at 1.2000.
  • Move comes despite the much firmer than expected construction PMI this morning (54.6 vs. Exp. 48.6) as spot edges away from the larger Monday expiry at 1.2050 (E1.5bln set to roll off at the NY cut).
  • Of note, MPC's Dhingra is set to speak later this week on Wednesday - her first public speech since joining the MPC in August of last year.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.