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Pound gets a boost at the London Fix
The last fix of the month sends the quid up nearly 60 pips Through 1.22 to 1.2219. EURUSD follows by adding nearly 30 pips to 1.0973. We've not seen a move like that for quite a while and it certainly wasn't the "no comment" comment from Theresa May's office after her meeting with Carney. The question I always ask myself after fix moves like this is, was the market depressed by E.O.M sales all day and now that's over it wants to go higher, or is this just a fix move that will fade back to the trend of the day? Either way, be careful.
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