FX Brief: Cable Closes at 2+ Year Low Under 1.2500
Matt Weller, CFA, CMT July 9, 2019 3:48 PM
- GBP/USD is on track to close at its lowest level in over two years after a run of weak UK and strong US data.
- The Swiss franc was the strongest major currency today and the Aussie was the weakest.
- USD/MXN rallied to a 1-month high near 19.40 after Mexico’s Finance Minister unexpectedly resigned.
- All eyes are turning toward Fed Chairman Powell’s testimony to Congress, which kicks off during tomorrow morning’s US session; the minutes from the most recent FOMC meeting will be released that afternoon.
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