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The high-flying British pound (GBP) slipped from this week's six-year high against the US dollar after data overnight showed that Britain’s dominant services sector grew at a slower pace than expected in June.
The drop in the services PMI to 57.7 from 58.3 in May was lower than the forecast for 58.3 but nevertheless kept the sector’s performance solidly in expansion territory and thus we see sterling remaining supported.
July 4,2014
Having hit the best exchange rate since 2008 we ask whether the pound sterling (GBP) can continue to deliver fresh highs against the dollar. The rate is at 1.7144 at the time of writing.
July 3,2014
Above: The pound dollar rate hits resistance and we note the Relative Strength Index shows the currency pair falling back from over-bought levels.
The British pound (GBP) exchange rate complex continues to show an upward bias in global FX markets with UK economic data remaining supportive to the unit.
July 2,2014
Above: Bank of England Governor Carney presents the main event-risk for the GBP on Tuesday.
The British pound (GBP) has withdrawn from recent highs and no longer offers currency market participants the best exchange rates of 2014.
June 25,2014
Above: The GBP/EUR remains in a rising channel but has come under pressure in recent days.
The pound to dollar exchange rate (GBP/USD) currently sits below the peaks seen above the $1.70 level after the Bank of England delivers contradictory messages on interest rates.
June 25,2014
The pound sterling (GBP) continues to trade in a positive fashion thanks ultimately to the belief that UK interest rates will rise at the end of this year.
June 23,2014
The British pound (GBP) continues to advance across the board and now offers the best dollar and euro exchange rates in years.
June 23,2014
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Horizon Currency's dealing desk is here to answer any questions you have about the market.
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