GBP/USD Revisits 1.4500 After US Data
GBP/USD edged a tad higher and trimmed intraday losses at the beginning of the New York session, despite data showed US initial jobless claims dropped more than expected last week.
US initial claims for unemployment benefits fell to 264K in the week ended Jun 4, below the 270K expected. However, the greenback failed to benefit from data.
GBP/USD rose to an hourly high of 1.4500, but the 200-hour SMA offered resistance and it failed to regain the psychological level. At time of writing, the pair is trading at 1.4476, still a few pips below its opening price.
Cable bottomed out at 1.4445, but managed to pare losses after data showed the UK trade deficit unexpectedly narrowed in April.