Recently the pound has been shunned like its got a dose of fleas but now the buyers are rushing in.
GBP/USD continues to run higher though 1.5670 to 1.5677.
GBP/JPY has put on over 100 pips to 184.41 (partly helped by USD/JPY’s continued push north)
EUR/GBP is having a little battle at 0.8000 after failing at strong resistance at 0.8035/40
EUR/GBP Daily chart 19 11 2014
I’m sure no one is going to get carried away with these moves but based on the BOE minutes the downside might have just become a tad more difficult to achieve now. The dollar is going to have a big say on one side, so caution still remains for cable. Elsewhere we might start to see a bottom put in but it’s still early days so I wouldn’t necessarily go chasing these moves.
