United States Dollar: GBP/USD slipped below 1.49 on Friday as the dollar strengthened gradually throughout the day, a bit of a surprise given the losses experienced in USD/JPY following the Bank of Japan’s monetary policy announcement towards the end of last week. There wasn’t any data released from the UK or US and so it was a fairly muted end to the week for cable last week - GBP/USD opens this morning at 1.49. There isn’t much by way of UK or US data on the way today, only Final GDP and US Durable Goods from the US. Current account data is also due from the UK.
We expect a range today in the GBP/USD rate of 1.4810 to 1.5000
Euro: EUR/USD pushed slowly higher through the day on Friday but it really hasn’t done a lot. It was a slow day in terms of data. EUR/USD reached 1.0855 and GBP/EUR has slipped to open the London session at 1.3720. It’s likely to be another slow day today too.
We expect a range today in the GBP/EUR rate of 1.3670 to 1.3750
Aussie and Kiwi Dollars: AUD/USD and NZD/USD have pushed a little higher over the last 24 hours. Again it’s been a quiet start to the week for both currencies. There isn’t a great deal of data on the way this week either with only NZ trade balance to make mention of.
We expect a range today in the GBP/AUD rate of 2.0700 to 2.0940
We expect a range today in the GBP/NZD rate of 2.1980 to 2.2110
AUD: No data
EUR: German Buba Monthly Report, Consumer Confidence
GBP: CBI Realized Sales
NZD: No data
USD: No data
If you want instant updates on movements in the FX market and fast access to the UKForex daily commentary, follow us on twitter at http://twitter.com/ukforex or @ukforex