Dollar Versus Euro and Pound August 2nd

FX Strategy Video > Currency Pairs Analysis

EUR/USD initially tried to rally on thoughts of Fed easing. Turns out that Bernanke had other ideas, and the pair fell as a result of the Fed disappearing. The pair now looks likely to aim for the 1.20 level. The pair could however have a knee jerk reaction higher to the ECB announcement.

The GBP/USD pair fell hard after the Fed announcement, and looks horrible. However, we are still in the consolidation area, and we think the 1.55 to the 1.54 area looks like massive support. With this in mind, this pair could be difficult.

Published on 1st of August 2012
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