Bank of England decision highlights Thursday docket

LMAX Group Research Desk LMAX Group

We come into Thursday with the US Dollar extending its latest recovery and now up across the board over the past week. But it's been a bit of a weird week when it comes to reconciling price action, with no major developments that would easily justify the Dollar push.

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LMAX Group Research Desk

LMAX Group

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EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.