Forex trading news and economic data 4 July 2016
Not a lot to report today as markets take an extra breather courtesy of the US holiday.
The pound suffered a kick in the acorns as construction not only fell but fell into contraction for the first time since 2013 but to the lowest level since 2009. The sector had been a beacon of light in the recovery but it’s fallen off the cliff thanks to the Brexit wolf. Luckily there’s a fence around the pound cliffs so its fall was limited to less than 50 pips from around 1.3290. We recovered that back but 1.3300 is the current no-go area and we’ve just nicked a new low for the session at 1.3237 as EURGBP has another look at 0.8400. Pick your poison with that one.
Forexlive European FX wrap: The big bad Brexit wolf blows the UK house down
