Intra-Day Market Moving News and Views
17 Jul 2017 09:00GMT
GBP/USD - 1.3075... The British pound has surrendered some of it's gains after Friday's rise to a fresh 13-month peak at 1.3114 due to profit-taking offers n price has retreated to 1.3070 in early European morning AND continues to remain under pressure.
In the absence of major economic data today from UK, focus will be on the Brexit talks, which commence today. Investors should pay attention to headlines coming out from talks between the EU and UK negotiators.
Offers are now seen at 1.3110/20 and more above at 1.3130/40 with stops building up above there whilst bids are lowered to 1.3040/50, suggesting further choppy trading would be seen.
Data to be released today:
UK house price, GDP, EU CPI, core CPI and U.S. New York manufacturing on Monday.
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