Fri, Jul 29 2011, 16:07 GMT |
FXstreet.com FXstreet.com (C�rdoba) - The British Pound continues to advance against the Dollar, having already erased its intraday losses and even posted gains, climbing to a fresh 7-week high. GBP/USD has risen over 200 pips from daily lows and hit the highest rate since Jun 7 at 1.6469 before easing slightly.
At time of writing, Cable is trading at the 1.6450 zone, recording a 0.50% gain on the day. According to Valeria Bednarik, analyst at FXstreet.com, as long as the pair holds above 1.6360, it will keep its intraday bullish tone.
The Pound is also outperforming the Euro, with EUR/GBP falling to an almost 2-week low at 0.8733.
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Source: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=df9f4c5d-875a-43c9-936d-555f7d488d5d
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