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16 Apr 2015
GBP/USD pulls back from daily highs
FXStreet (Córdoba) - GBP/USD dipped back below 1.4900 as the dollar recover some ground following more upbeat US manufacturing data.
The Philly Fed manufacturing index rose to 7.5 in April from 5 in March and beating expectations of 6 (any reading above zero indicates improving conditions in the sector). The data helped to offset disappointing initial jobless claims and housing starts, giving the dollar a slight boost.
GBP/USD pulled away from a high of 1.4939 and slid toward 1.4883 after data. At time of writing, the pair is trading at 1.4890, still 0.34% above its opening price. Cable is rising for fourth day in a row on Thursday, recovering from a 5-year low of 1.4569 scored last Friday.
The Philly Fed manufacturing index rose to 7.5 in April from 5 in March and beating expectations of 6 (any reading above zero indicates improving conditions in the sector). The data helped to offset disappointing initial jobless claims and housing starts, giving the dollar a slight boost.
GBP/USD pulled away from a high of 1.4939 and slid toward 1.4883 after data. At time of writing, the pair is trading at 1.4890, still 0.34% above its opening price. Cable is rising for fourth day in a row on Thursday, recovering from a 5-year low of 1.4569 scored last Friday.