Cable hits the highs of the week as the US dollar slips following retail sales

Author: Adam Button | Category: News

Cable gains after US retail sales

Cable gains after US retail sales
The US dollar slipped after the retail sales report and a strong bid for the pound materialized. The rally in cable took the pair to the highs of the week at 1.3133 before a slight pullback to 1.3225.

Yesterday cable tried to make a run higher earlier but was pulled back on a USD-bid following a weak Treasury auction.

In the big picture, the pound continues to consolidate in a relatively tight range after the big July rally.

The August high was 1.3186.

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