EUR/USD has come under renewed pressure in the wake of the comments from BOE governor King acknowledging a likely UK recession.This amplifies the odds of another round of rate cuts over the next two weeks from the Fed, ECB and BOE.
Dealers note heavy real money sales of EUR/USD along with selling in cable. Prices have fallen close to the important Fibo support at 1.3055.
Cable has fallen below the 1.6800 level, trading now at 1.6767.
