Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders

Archives

Pound Breaks $2 Level

April 17, 2007 (Last updated on November 28, 2009) by

Today after CPI report came out to be higher than expected (Consumers Price Index in March (YoY) reached 3.1% against expected 2.8%), GBP/USD broke through the historical $2 level and is floating now in 2.0030–2.0070 range — the highest since 1981. Looks like bad times for USD have came. On the other hand it’s nearly a perfect time to enter long on USD, because the correction will certainly follow. Though, Forex market can’t be treated that simple.

Leave a Reply

required
required (will not be published)