INTERNATIONAL CURRENCY BUZZ :
- Forex- Dollar broadly lower ahead of U.S. home sales data.
- Forex- Pound moves higher after BoE minutes.
- Forex- Euro edges higher in quiet trade.
GBP/USD was up 0.54% to 1.5011 from around 1.4938 ahead of the minutes. Sterling gained ground on Wednesday after the minutes of the Bank of England’s April meeting showed that officials see an improved chance that inflation could bounce back more strongly in 2015.The minutes of the BoE’s latest monetary policy meeting showed that policymakers voted nine to zero in favor of keeping rates unchanged at a record low 0.5%, but the decision remained “finely balanced” for two officials. The central bank said it still expects that inflation could turn negative in the next couple of months, having been flat in February and March.
EUR/USD was up 0.19% to 1.0757, off Tuesday’s lows of 1.0659.The euro edged higher on Wednesday but concerns over Greece’s debt negotiations continued to weigh on the single currency in subdued trade. The Greek government is no closer to reaching an agreement with its euro zone partners and the International Monetary Fund over economic reforms required to access remaining bailout funds, fuelling fears that the country could be forced out of the euro zone. On Tuesday Bloomberg reported that the European Central Bank is considering tighter rules on Greek banks in return for emergency liquidity, adding to pressure on Athens. Trade remained subdued with little in the way of economic data to provide fresh direction for markets.
- BUY GBPUSD ABOVE 1.5060 TARGET 1.5080 1.5110 SL 1.5030
- SELL GBPUSD BELOW 1.5005 TARGET 1.4985 1.4955 SL 1.5035