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GBP/USD: Brexit woes for the pound continue - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Valeria Bednarik, chief analyst at FXStreet explained that the pound was among the worst daily performers, sharply lower after the London's opening bell as new terrorism attacks in Europe fuelled risk of a Brexit.

    Key Quotes:

    "The pair fell initially to 1.4251, before the UK reported softer-than-expected inflation, which end up fuelling the decline of the pair. Headline CPI rose 0.2%, below market's consensus, leaving the year-over-year rate unchanged at 0.3%. The core rate was unchanged at 1.2%. Also, the Input prices for producers was below expected while output price was not quite as soft as forecast.

    The GBP/USD pair bottomed at 1.4189 daily basis, and has spent most of the US session consolidating around 1.4200, with short term selling interest surging on approaches to the 1.4250 level, now the immediate resistance."
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