Weekly GBP/USD

As we head into a new trading day in the U.S., currencies appear to be sticking to their recent ranges. The summer lull combined with some very sideways trading patterns has been frustrating for position traders. More encouraging, though, is the prospect of much new data before the next Fed meeting in September. The emphasis remains on interest rates and since the much-anticipated "pause" the data has, on the whole, argued for a continuation of the pause. As a result of slowing growth and softer inflation readings, Dollar sentiment has become a shade more negative, with many traders worried that an impending loss of rate support could see a push past 1.30 in the EUR/USD. Read More....