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19 Jun 2013
GBP/USD posts daily low on Fed Rate decision
FXstreet.com (Barcelona) - Having broadly traded within a close to 70 pip range today, GBP/USD has following the US Federal Reserve decision to hold interest rates.
GBP/USD pushes lower as Fed holds rates
The decision to hold US interest rates at 0.25% was taken amidst a growing sense of anticipation that the Fed will eventually look to start tapering its accommodative monetary policy. GBP/USD’s immediate reaction has been to see spot decline over 70 pips to 1.5604, where the daily low had previously stood. Spot has continued to push further, making a low at 1.5594, before gently retracing higher to where it is currently trading at 1.5606.
GBP/USD pushes lower as Fed holds rates
The decision to hold US interest rates at 0.25% was taken amidst a growing sense of anticipation that the Fed will eventually look to start tapering its accommodative monetary policy. GBP/USD’s immediate reaction has been to see spot decline over 70 pips to 1.5604, where the daily low had previously stood. Spot has continued to push further, making a low at 1.5594, before gently retracing higher to where it is currently trading at 1.5606.