Soft equities, profit-taking in commodities; lousy UK GDP and talk the Fed may shift its communications strategy to prepare the market for eventual rate hikes are all helping give the greenback a modest boost ahead of the weekend. EUR/USD has dipped back below the 1.5000 level and cable has fallen back to 1.63 session lows.
Murmurs of central bank demand have been heard on dips in both cable and EUR/USD today. Given the huge selling above 1.6650 overnight by an Asian central bank, they have plenty of room to buy’em back now on dips.
