Pound has continued to recover, so let’s take a closer look at the market movements.
The Cable is the mover of the day, having gained 1.21%. The pair started moving higher after 6 o’clock.
UK Consumer Credit grew more than anticipated in May, and Pound is the most bullish of the eight majors by a notable margin.
The gradual return of risk appetite has benefited commodity currencies, with Kiwi being the most bullish of them.
Australian new home sales continued to decline in May, but Aussie is still point 23% up from the Loonie.
German GfK consumer sentiment continued to improve in June, and the Common Currency stands point 15% up from the Yen.
And two safe havens are trading near the bottom of the table, with Swissie just a fraction up from the Buck.
Pound still remains weak in the long-term, though, as Euro/Pound tops the weekly bulls chart with a gain of more than 7%. Pound/Yen posts the biggest decline, having lost 9.61%.
And things look similar on the monthly chart, as Euro/Pound again is the top advancer with a gain of almost 8%, whereas Pound/Yen has lost 14.41%, and it is the biggest drop.
I’m Celeste Skinner and these were the Movers and Shakers for Wednesday. We’ll be back tomorrow to track the latest developments, but for now, goodbye.
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