The US economy expanded at the fastest pace in three years, as businesses invested more in equipment and inventories, offsetting slackening in inflation.
Previous trading session the pair spent fluctuating between the 1,297.00 and 1,292.00 level amid the encouraging macro news from the US and disturbing news from North Korea.
In line with expectations, the release of better than expected American macro data as well as progress made on tax reform adoption led to strong appreciation of the buck.
The Conference Board revealed that the Consumer Confidence Index for the US rose to the 129.5 mark in November, reaching the highest level in 17 years.
The Sterling weakened against the US Dollar on the Bank of England report showing its stress test results for this year.
In result of the previous trading session, the pair confirmed transformation of an ascending channel into the rising wedge formation.
Due to hawkish remarks made by the Fed Kaplan, the Dollar gained some momentum and dragged the pair back to the 55-hour SMA located at 1.19.
Sales of new single-family homes in the US marked solid increase to reach a ten-year high due to robust demand throughout the country, providing a boost to the property market.
Sales of new single-family homes in the US marked solid increase to reach a ten-year high due to robust demand throughout the country, providing a boost to the property market.
On Friday, the exchange rate made breakout from symmetrical triangle pattern to the south.
The Sterling was seen slightly stronger against the US Dollar, after the UK GDP growth report came in on Thursday.
Commerce Department stated that the US durable goods orders fell sharply 1.2% in October, while its core measure marked sligtly weaker increase of 0.4% in the same period.
The common European currency is continuing to advance against the Dollar in an attempt to reach the 1.20 mark.
Commerce Department stated that the US durable goods orders fell sharply 1.2% in October, while its core measure marked sligtly weaker increase of 0.4% in the same period.
The Sterling was seen slightly stronger against the US Dollar, after the UK GDP growth report came in on Thursday.
In result of fluctuations in a limbo between the 1,295.00 and 1,287.22 levels the exchange rate has formed a minor symmetrical triangle.
Previous trading session the currency rate expectedly spent in limbo between the 1.1860 and 1.1837 levels.
During the previous trading session, the exchange rate continued the soar from the bottom edge of senior ascending channel.
A release of the US macro data as well as the Fed Meeting Minutes led to rapid depreciation of the Dollar against all major currencies.
Commerce Department stated that the US durable goods orders fell sharply 1.2% in October, while its core measure marked sligtly weaker increase of 0.4% in the same period.
Commerce Department stated that the US durable goods orders fell sharply 1.2% in October, while its core measure marked sligtly weaker increase of 0.4% in the same period.
The National Association of Realtors reported that the US existing home sales rose more than anticipated in October, revealing 2.0% gain to a seasonally adjusted yearly rate of 5.48M units in the reported month.
The National Association of Realtors reported that the US existing home sales rose more than anticipated in October, revealing 2.0% gain to a seasonally adjusted yearly rate of 5.48M units in the reported month.
In line with expectations, the exchange rate failed to bypass the 100- or 55-hour SMAs yesterday.