It’s time for Monday’s Main Spike Controller. Let’s take a closer look at the benchmark interbank price data.
Euro/Dollar’s long term average spread is point 31 pips and max separation stands at less than 1 pip.
Start of this week has brought a gradual rise for this pair, it has gained point 27% or 30 pips to hit the high of 1 1183.
Spreads have been generally calm as US enjoys a bank holiday and max of only point 9 pips took place today at 7:39 in the morning.
The Cable’s daily average is just slightly above 1 pip and both of the sides separated by 4.1 pips during the last 4 hours.
Pound/Dollar rose sharply by point 65% or 86 pips, but some of the gains were given up after the high of 1 3376 was reached.
UK Services PMI was released today at 8:30 AM and that’s the time of the peak daily spread, but 4.1 pips is the most you should have been charged.
Dollar/Yen wraps up this overview and spreads have averaged at point 47 pips during the last 24 hours for this pair. Max separation has been 1.7 pips.
Greenback has been on a slide against the Yen, declining by close to 1% or 99 pips.
Start of this week has been calm in terms of spreads, they haven’t exceeded 1.7 pips so far.
I’m Kiays Khalil and that’s all for Monday’s Primary Spike Controller. Stay tuned for the hourly updates.
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