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13 Mar 2015
GBP/USD accelerates losses after 1.4800 gives up
FXStreet (Córdoba) - GBP/USD took another step lower on Friday and broke below the 1.4800 psychological level paving the way to fresh multi-year lows as the pound continues to underperform across the board.
Weak construction data added to the selling pressure around the pound, which was already on the back foot after Carney’s dovish remarks on Thursday. BoE Governor said a strong pound, specially against the euro, could weigh on UK prices for some time, which was understood as the BoE is in no rush to hike rates.
GBP/USD accelerated losses after breaking below the 1.48 mark and fell to its lowest level since June 2010 at 1.4735 in recent dealings. At time of writing, the pair is trading at 1.4750, recording a 0.87% loss on the day.
Cable has been facing persistent selling pressure over the last weeks amid speculations the Fed will be the first major bank to hike rates sometime mid-year. GBP/USD has lowest more than 5% so far in 2015, and more than 14% since July when it peaked at 1.7190.
Weak construction data added to the selling pressure around the pound, which was already on the back foot after Carney’s dovish remarks on Thursday. BoE Governor said a strong pound, specially against the euro, could weigh on UK prices for some time, which was understood as the BoE is in no rush to hike rates.
GBP/USD accelerated losses after breaking below the 1.48 mark and fell to its lowest level since June 2010 at 1.4735 in recent dealings. At time of writing, the pair is trading at 1.4750, recording a 0.87% loss on the day.
Cable has been facing persistent selling pressure over the last weeks amid speculations the Fed will be the first major bank to hike rates sometime mid-year. GBP/USD has lowest more than 5% so far in 2015, and more than 14% since July when it peaked at 1.7190.