Won drops most in 6 months on Dollar demand

Source: Bloomberg
South Korea's Won touched a 6-month low amid the growing demand for the U.S. Dollar as the figures showed positive signs of the economic recovery of the United States. The Won depreciated 0.9% to 1,037.10 per Dollar, the biggest decrease since the end of January. The Bloomberg Dollar Spot Index by-turn jumped 0.8% for the third weekly rise.

 

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Fri, 01 Aug 2014 12:32:14 GMT

Cable touches 6-week low on U.K. PMI miss

The Sterling reached the lowest level in six weeks versus the U.S. Dollar following the issue of the disappointing U.K. PMI figures as investors remained prudent ahead of expected U.S. jobs report. GBP/USD reached 1.6840 in the morning, consolidating at 1.6850. The Manufacturing Purchasing Managers' index dropped to 55.4% last month.

Fri, 01 Aug 2014 12:10:16 GMT

Pound Sterling forecasted lower against the US Dollar

The Pound is feeling continued pressure with the Dollar reaching higher levels. As the GBP/USD pair broke through both the 1.7 and 1.69 levels the soon due UK manufacturing PMI needs to show some really positive numbers to halt the decline. However, there seems to be further support for the USD from both the economy's data and institutions downgrading their forecast for the GBP/USD.

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