Intra-day Market Moving News and Views
03 Jul 2015 08:33GMT
GBP/USD - 1.5625... Despite cable's choppy sideways move in a relatively narrow range of 1.5602-1.5623 in Asian and early European session, price jumped briefly to 1.5649 following the release of upbeat UK service PMI.
On Friday, The Chartered Institute of Purchasing & Supply and the NTC Economics Service sector activity in the U.K. rose more-than-expected last month.
It said that U.K. Services PMI rose to a seasonally adjusted annual rate of 58.5, from 56.5 in the preceding month.
At the moment, bids from various accounts are building up at 1.5610-00 and more around 1.5590 with mixture of bids and stops at 1.5570-60.
On the upside, offers are tipped at 1.5645/50 and more around 1.5670 with stops emerging further out above 1.5700.
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