Bank of England’s Carney in a speech statedThe dollar reached a 6 year high against the yen and hit a 14-month peak against several currencies, on the absence of any important news, continuing from yesterday’s substantial gains. The dollar index rose 0.25% to 0.8449 and a break of 84.75 could take it to July 2010 levels. Bank of England’s Carney in a speech stated that the time to begin raising rates is getting closer and interest rates rises will be limited and gradual, giving a boost to gbp/usd to 1.6150 but sellers quickly re-appeared as the uncertainty over the Scottish referendum continues to weigh on the pound.
The pair is on an uptrend but strong resistance at 1.1000 capped the rally for the time being. A break and close above this area could accelerate momentum.
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