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GBP/USD Tumbles As BBA Mortgages Miss Expectations

ByFxNet
Published 07/24/2014, 12:49 AM
Updated 04/25/2018, 04:40 AM

EUR/USD is down a point at 1.3464 after brokers stress over the financial soundness of the eurozone. The euro touched multi-month lows against the dollar today as speculators worry about the effect on the eurozone economy of conceivable new endorses against Russia after the bringing down of Flight Mh17

GBP/USD tumbled by 21 points to trade at 1.7044 after BBA mortgages missed expectations. Sterling pared gains against the dollar and the euro on Wednesday while gilt futures rose after minutes from this month’s Bank of England policy meeting were not as hawkish as some in the market had anticipated.

AUD/USD is moving between small losses and gains as the strong US dollar weighs on the commodity currency but strong data from China seems to be keeping this in balance as the pair trades at 0.9456. The Aussie climbed this week from below the 94 level and has been able to sustain its strength after the RBA avoided mentioning the strength of the currency in recent public statements.

USD/JPY gained 4 points to trade at 101.53 as the US dollar continues to climb and the JPY eased after the release of trade balance numbers. Japan’s trade deficit ballooned to a record in the first half of the year as exports fell further in June, data showed Thursday, ramping up pressure on the central bank to unveil fresh measures to boost the economy.

Gold has been trading with little momentum today gaining $2.50 to trade at 1308.80. Geopolitical concerns eased somewhat while traders continued to consider the impact of potentially tighter economic sanctions against Russia for its support of Ukrainian rebel militias accused of shooting down a Malaysian airliner last week.

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