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GBP/USD stays at 8-month lows after FOMC minutes

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The US dollar weakened broadly following the release of the minutes of the latest FOMC meeting, where they decided to raise rates, but saw only a short-lived, modest bounce of GBP/USD.

    GBP/USD jumped to the 1.4640 zone from 1.4615 before the release, but the move lacked follow-through, leaving the pair stuck within its recent range. At time of writing, Cable is trading at 1.4622, still 0.37% below its opening price and close to its 8-month low of 1.4601 scored earlier on the day.

    Fed minutes showed that even though members voted unanimously to raise rates, it was a “close call” for some of them amid significant concern about low inflation.
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