Euro and dollar selling infuses strength in the Pound – Investec

FXStreet (Barcelona) – The Investec Team mentions that the Greece drive EUR selling and the FOMC driven dip in the USD are driving GBP higher.

Key Quotes

“In the UK, inflation tip-toed back above 0% after only one month below, helping to boost the Pound yesterday. A lot of recent sterling strength has been a by-product of Greek driven Euro selling and FOMC driven Dollar selling.”

“The Dollar continues to trade on the back foot heading into tonight’s FOMC meeting, with some analysts believing the Fed’s mantra of policy action relying on the data, may see them reduce expectations of two hikes this year down to just one. The market awaits Janet Yellen and the rest of her committee for guidance.”

The Investec Team mentions that the Greece drive EUR selling and the FOMC driven dip in the USD are driving GBP higher.

(Market News Provided by FXstreet)