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10 Apr 2013
Forex: EUR/GBP edges higher after surprise FOMC release
FXstreet.com (Barcelona) - EUR/GBP has edged higher following the surprisingly early release of today's FOMC minutes.
The pair had dipped from its daily high at 0.8560 following commentary from BoJ Governor Kuroda, which saw spot decline to find support around 0.8540, just above the daily pivot point at 0.8535. The reason for the early release is as yet unknown, but the minutes disclosed that FOMC members saw little change in outlook from prior meetings and a number of members saw QE tapering off at around mid year. Spot is currently trading at 0.8544, and hourly stochastics look congested at mid range at 54, while RSI is positioned to continue ranging at 53.
The pair had dipped from its daily high at 0.8560 following commentary from BoJ Governor Kuroda, which saw spot decline to find support around 0.8540, just above the daily pivot point at 0.8535. The reason for the early release is as yet unknown, but the minutes disclosed that FOMC members saw little change in outlook from prior meetings and a number of members saw QE tapering off at around mid year. Spot is currently trading at 0.8544, and hourly stochastics look congested at mid range at 54, while RSI is positioned to continue ranging at 53.