FXEM - EMPIRE MARKETS - Company New Article

The British pound continued its rise amid continued pressure on the US dollar, as markets await any signals from the US Federal Reserve regarding the path of monetary policy. Furthermore, recent UK inflation data showed a slight slowdown, restoring some confidence to the pound.

If the dollar's weakness continues, we may see the pair approach 1.3340, while any renewed demand for the dollar could push it back towards 1.3220.

The euro is recording moderate gains today, supported by improved eurozone industrial production data, while expectations of a US interest rate hike are fading. However, the market remains cautious amid ongoing talk of a global economic slowdown.

It may continue its climb towards 1.1415, but if fears of European economic weakness resurface, we could see a return to the 1.1320 levels.