The Pound is restrained in its movements
30.06.2015
On Tuesday afternoon, the GBP/USD pair is trading slowly, despite the Greek statistics and expectations.
The British Pound is calm on Tuesday afternoon. The current quotation of the GBP/USD pair is 1.5722. Investors are saving energy before the fateful decisions on Greece on 30th of June. We are talking about the Greeks updating the technical default, because for the payment today in favour of the International Monetary Fund in the amount of 1.6 billion euro the country has no money and is not expected to have it without the European tranche. Much now depends on the behaviour of the US dollar, so the major traded pairs are inactive.
Meanwhile, today the UK revealed the final GDP statistics for the first quarter. According to published data, the economy expanded in January-March 2015 by 2.9% y/y against the original calculation of the growth of 2.5% y/y. This is a very positive signal, but market participants will act on it a bit later. Quarterly the UK economy added a projected 0.4%.
The UK is far enough away from Greece, especially as it is not part of the euro zone to seriously worry about the fate of such debtors. But Britain is a member of the European Union and may take part in the negotiations on Greece. So news of a Greek default is important for the UK, but not as painful as for the euro area.
RoboForex Analytical Department
The British Pound is calm on Tuesday afternoon. The current quotation of the GBP/USD pair is 1.5722. Investors are saving energy before the fateful decisions on Greece on 30th of June. We are talking about the Greeks updating the technical default, because for the payment today in favour of the International Monetary Fund in the amount of 1.6 billion euro the country has no money and is not expected to have it without the European tranche. Much now depends on the behaviour of the US dollar, so the major traded pairs are inactive.
Meanwhile, today the UK revealed the final GDP statistics for the first quarter. According to published data, the economy expanded in January-March 2015 by 2.9% y/y against the original calculation of the growth of 2.5% y/y. This is a very positive signal, but market participants will act on it a bit later. Quarterly the UK economy added a projected 0.4%.
The UK is far enough away from Greece, especially as it is not part of the euro zone to seriously worry about the fate of such debtors. But Britain is a member of the European Union and may take part in the negotiations on Greece. So news of a Greek default is important for the UK, but not as painful as for the euro area.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.