There’s no rest for the wicked pound. After making the much needed correction on the back of the weak UK services PMI and completing the downwards move with the initial reaction to the excellent US Non-Farm Payrolls, the pair resumed its rises.
At 1.7178, cable is at new multi-year (since 2008) high. And as the euro was unable to recover from the NFP and more importantly from the dovish words of Mario Draghi, EUR/GBP is digging deeper into low ground, reaching 0.7920 and below.
EUR/GBP is now at the lowest since September:
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