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5 May 2015
GBP/USD reaches daily highs above 1.5200
FXStreet (Córdoba) - GBP/USD broke above the 1.52 mark and advanced to fresh daily highs following the latest string of mixed US data.
While US trade deficit widened to its highest level since 1996 in March, the ISM services PMI beat expectations, rising to 57.8 in April.
The dollar wavered but finally surrendered and fell across the board. GBP/USD reached a 4-day high of 1.5206 before pulling back slightly. At time of writing, the pair is trading at 1.5190, recording a 0.48% gain on the day.
Still, moves are timid amid cautious traders ahead of the UK general elections on Thursday, with latest polls still favoring a hung parliament, and the eagerly awaited US nonfarm payrolls report on Friday.
While US trade deficit widened to its highest level since 1996 in March, the ISM services PMI beat expectations, rising to 57.8 in April.
The dollar wavered but finally surrendered and fell across the board. GBP/USD reached a 4-day high of 1.5206 before pulling back slightly. At time of writing, the pair is trading at 1.5190, recording a 0.48% gain on the day.
Still, moves are timid amid cautious traders ahead of the UK general elections on Thursday, with latest polls still favoring a hung parliament, and the eagerly awaited US nonfarm payrolls report on Friday.