US: Richmond Fed Manufacturing Index drops to -6 in February

FXStreet (Barcelona) - The US Richmond Fed Manufacturing Index declined to -6 in February from 12 in January, the Federal Reserve Bank of Richmond informed today. This is the lowest level registered by the indicator since July 2013 when it stood at -11.

Feb 25, 2014

GBP supported on poor US data

GBP/USD has been above the 200 DMA again and was through onto the 1.67 handle prior to the poor Consumer Confidence data from the US.

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Feb 25, 2014

GBP reverses course dramatically, 1.6665

GBP/USD had been bid on the day and even post the Consumer Confidence data that should have been dollar negative. Some time post the release a steady cable suddenly dropped out of the skies and is finding a base 40 pips lower in the 1.6660's - yet to be fully explained although Fed's Tarullo has been speaking and Gold is making fresh highs.

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