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Forex Flash: GBP/USD year-end target at 1.64 – Scotiabank

The cross is back to session lows in the proximities of 1.5730 on Tuesday, retracing initial gains after climbing to the area around the key resistance at 1.5800, as risk aversion is reining in the markets.

“The focus for GBP is turning towards Mark Carney’s appearance in front of the Treasury Select Committee on Thursday - the same day as the BoE policy announcement, where we (and consensus) expect no change to the current policy and asset purchase stance. We hold a bullish outlook for GBP, expecting it to close the year at 1.64, believing that currently markets are over pricing the downside risks”, assessed Camilla Sutton, Chief Currency Strategist at Scotiabank.

Forex: USD/CHF bounces after testing yesterday's low

The USD/CHF is failing to steadily extend gains above 0.9100 and has been easing throughout the European morning. The market tested yesterday's lows of 0.9074 on SNB's Zurbrugg speaks. The pair is currently rising, at 0.9085.
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Gold trading at $1674.71

The price of gold approached the upside boundary of its near-term range at 1682, following yesterday’s rally from the levels close to the range floor that cracked the triangle resistance at 1686. However, according to Slobodan Drvenica an analyst at Windsor Brokers Ltd., “Sideways movements within 1657 and 1682 illustrate a neutral near-term tone, with break of either side required to establish fresh direction.”
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