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Now the GBP/USD slips as EUR/USD losses deepen
Since my last update on the EUR/USD the fall below 1.0950 has now extended and that has seen the Euro drop below 1.0925. Eventually, that fall has weighed on the GBP/USD. So that has now thrown the towel into the ring versus the vibrantly rebounding US dollar. I said here earlier; that it seemed possible all the forecast dollar outflow for the month-end might have run its course and increasingly that seems likely, given the price action in the EUR/USD and GBP/USD right now. So, the GBP/USD has finally bowed to that dollar rebound. The GBP/USD has dropped back closer to 1.2650, even as the EUR/GBP continues to press lower. The GBP/USD closed in the US last night at 1.2695. The low seen so far has been set at 1.2662. The GBP/USD is currently trading at 1.2662
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