FXEM - EMPIRE MARKETS - Company New Article

The British pound traded in a calm range today as markets await new comments from the Bank of England. The weaker US dollar offered some support to the pound, although local pressure from the UK’s economic slowdown remains evident.

Outlook: Without positive UK data, the pair may drift toward 1.3240, while continued dollar weakness could lift it toward 1.3340 in the short term.

The euro hovered near the 1.1200 level, as traders await key US inflation figures. Germany’s weak growth and continued eurozone slowdown are weighing on the currency.

Outlook: The pair is likely to remain range-bound between 1.1160 and 1.1250 until a new catalyst appears, with a slight bearish bias if US data surprises to the upside.