Forex trading news and economic data headlines 7 July 2016
The quid was in a better place today as it came back from several attempts to knock it lower. The lows have been getting higher and buyers kept the pressure on taking it up towards 1.30 time and time again. We’ve finally seen that pressure break the big figure properly and it’s been confirmed by support coming in ahead of 1.30 now. Option players were said to be buying earlier and with 1bn going off a the 1.30 strike later, there may be more twists and turns yet. It’s only a small victory for the pound and doesn’t change the bigger picture but for now, buyers are in control as we touch a new high at 1.3047.