GBP/USD dipped under 1.5950 and is trading at a new cycle low of 1.5946. Inflation was the last big trigger. Inflation is at the lowest in 5 years and cable at the lowest in nearly a year. The sell off of the greenback helped the pair recover above 1.60 but this is gone now. There was a race between the UK and the US as to who will raise the rates first. But now there is a race as to who will push back on rate hikes for a longer time. However, in this “ugly” contest, the pound seems to be the weaker currency. The center of global worries is the euro-zone. The UK is by far more exposed to the currency union’s woes. The danger of deflation hangs over the zone and it now threatens to reach the UK. Tomorrow we will get additional important figures from the UK: employment data. While employment is certainly improving in the UK, this isn’t news and the focus is now on the figure that combines inflation and employment: salaries. See how to trade the UK average earnings index with GBPUSD. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next AUD/USD decline looks strong; EUR/USD could be heading lower Gregor Horvat 8 years GBP/USD dipped under 1.5950 and is trading at a new cycle low of 1.5946. Inflation was the last big trigger. Inflation is at the lowest in 5 years and cable at the lowest in nearly a year. The sell off of the greenback helped the pair recover above 1.60 but this is gone now. There was a race between the UK and the US as to who will raise the rates first. But now there is a race as to who will push back on rate hikes for a longer time. However, in this "ugly" contest, the pound seems to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
