26 May 2015
GBP/USD hits 2-week low weighed by US data
FXStreet (Córdoba) - GBP/USD resumed the fall and hit a fresh 2-week low as the dollar strengthened on the back of US durable goods data. GBP/USD dropped to a low of 1.5359, last seen May 8, and it was last trading at 1.5380, 0.56% below its opening price.
US durable goods orders dropped 0.5% in April versus a fall of 0.4% expected. However, March durable goods orders rise was revised to 5.1% from a previously reported 4.4% gain. Excluding transportation, orders rose 0.5%, matching expectations.
Separated data showed US home price index rose by 0.9% in March and 5.0% YoY.
The dollar resumed its advance on Tuesday as investors are coming back after the holiday and digesting Fed Yellen's comments. On Friday, Fed Chairwoman said it would be “appropriate at some point this year” to start raising rates. Markets are regaining confidence the Fed will act sooner, after a soft series of Q1 data sparked skepticism.
US durable goods orders dropped 0.5% in April versus a fall of 0.4% expected. However, March durable goods orders rise was revised to 5.1% from a previously reported 4.4% gain. Excluding transportation, orders rose 0.5%, matching expectations.
Separated data showed US home price index rose by 0.9% in March and 5.0% YoY.
The dollar resumed its advance on Tuesday as investors are coming back after the holiday and digesting Fed Yellen's comments. On Friday, Fed Chairwoman said it would be “appropriate at some point this year” to start raising rates. Markets are regaining confidence the Fed will act sooner, after a soft series of Q1 data sparked skepticism.