Intra-day Market Moving News and Views
20 May 2015 07:58GMT
GBP/USD - ....... Although cable tracked euro's intra-day swing closely and fell from Asian high of 1.5524 to 1.5473 in European morning, price then chopped inside 1.5472-1.5499 as investors were reluctant to enter large positions ahead of the BoE minutes and MPC vote outcome at 08:30GMT.
At present, bids are reported at 1.5470-60 with mixture of bids and stops at 1.5450-40.
On the upside, offers from various accounts are placed at 1.5520-30 and then 1.5545/50 with stops building up just above 1.5550.
This morning as cable has rebounded after an initial 'euro-led' brief retreat to 1.5495 in Asian morning, suggesting consolidation was seen ahead of European open, and selling cable was still the way to go.
However, investors would have pay attention to the release of BoE minutes and the MPC vote outcome at 08:30GMT.
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