Forex Notes

London FX: Bank Of China Broke Pound Restoration

Continuation of the morning in Europe, sales of euro / sterling, which began as early as Thursday, a pair of lowered below the stg0.8700, which, in turn, helped the pound recovered to $ 1.5742.

Nevertheless, since the cross was supported in the stg0.8660, and the euro / dollar continued to lose points, a pound of rolled away from the maxima, reaching the end of the morning session up $ 1.5584, and the cross was able to recover to stg0.8680, despite the fact that the euro / dollar continued to suffer losses.

Overview Trading pound

Pound opened in Europe at $ 1.5696, stg0.8710

In Europe, the euro / sterling again came under pressure against a background of active sales by the British clearing bank, dropping a pair to stg0.8665. Pound / dollar rose to $ 1.5742, but the momentum soon faded away due to the weakening euro / dollar, cross held above the mark stg0.8660. Weak data on the eurozone in tandem c news that Bank of China decided to raise banks' reserve requirements, increased the pressure, the pound fell and touched the mark of $ 1.5593. At the end of the session pair Pound / dollar still traded near the minima, and cross euro / pound managed to recover to the level of stg0.8685.