US Dollar is nursing its wounds after hitting lows last seen in early February. So far the US Dollar Index managed to distance itself from the lows of 99.55 seen yesterday but remains vulnerable as we still see some USD weakness persist.
GBPUSD is in sight of recent highs of 1.2569, Gold is eyeing next resistance at $1265 but watch out as we may be topping off.
The US Dollar has been impacted by Trump’s struggle in pushing through a healthcare bill to undo Obamacare a vote is expected later today.
The Pound managed to shrug off news of yesterday’s terrorist attacks in London, and although initially some weakness was in fact affecting GBP support it was able to recover. We’re expecting the current rise of the GBPUSD to peak out at 1.2517:1.2552 to resume lower afterwards and target 1.2435/1.2389 area.
BoE deputy Governor will be speaking in London today and from the economic docket we see we have data for retail sales. Later this afternoon the Fed’s Yellen is also scheduled to deliver a speech and we have the customary US weekly jobless claims.
