Resolved Question
What's up with GBP/USD? :|
What made GBP/USB move the way it did today? Nov. 13, 2009 taken 11PM GMT +8 http://pic.gd/e29183 mmm any big news that I missed? Anyone?
over 2 years ago
Best Answer - Chosen by Asker
No economic reports were released from the UK at that time. But notice that the other major currencies also rallied against the USD around that time so maybe the GBPUSD gained momentum from increased risk appetite. Also, the GBP's rally may be attributed to the Euro zone's positive GDP reading for the third quarter. Since the UK is the Euro zone's major trading partner, economic expansion for the Euro zone translated to bullish sentiment for the UK economy, thus pushing the GBP higher.
over 2 years ago
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