FX & CFD trading involves significant risk
Spiked to $1.5874 from around $1.5825 as BOE MPC Minutes showed a 6-2-1 split, Weale joining Sentance in calling for a 25bp hike. Stops were triggered on the break of $1.5840, with rate quickly easing back to $1.5830. Analysts may judge this move to join Sentance as a react to the increase in UK inflation, with MPC not seeing yesterday's poor GDP ahead of release.
Offers now seen from recent recovery high at $1.5870 through to earlier high at $1.5880, with talk of stops now placed on a break of $1.5885. Support seen back at $1.5785/80 ahead of $1.5770 and $1.5750. Stops remain below $1.5740.
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