British pound in European trading session on Tuesday has added to the price against the dollar after the publication of the May report on inflation in the UK, which gave reason to assume that the VOE will be forced to soon start raising interest rates. Office for National Statistics reported that consumer prices in May rose by 2.2% year on year. The average forecast of economists surveyed agency Bloomberg, expected to decline by 2%. Higher, compared to forecasts, inflation in the UK have supported the national currency. The March futures on interest rates rose today to 1.86% compared to 1.83% yesterday, reflecting the changing moods of market participants.
Optimistic for the British currency changes have occurred in the technical picture of a pair Pound / dollar. So today's attempt to penetrate the minima yesterday was unsuccessful. The course has not been able to consolidate below 1.6240 and took off upwards, breaking yesterday's high at 1.6435. In addition, the positive rate for the rising traffic crossing the 50-day moving average line and the 200-day moving average line, which is beginning to trend upward in 2006, reinforces the optimistic buyers of British currency, adjusted for the strengthening of sterling medium.
Optimistic for the British currency changes have occurred in the technical picture of a pair Pound / dollar. So today's attempt to penetrate the minima yesterday was unsuccessful. The course has not been able to consolidate below 1.6240 and took off upwards, breaking yesterday's high at 1.6435. In addition, the positive rate for the rising traffic crossing the 50-day moving average line and the 200-day moving average line, which is beginning to trend upward in 2006, reinforces the optimistic buyers of British currency, adjusted for the strengthening of sterling medium.
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