The Pound Euro exchange rate (GBP/EUR) moved up sharply against the Pound during Thursday's trading. Traders speculated that further rate cuts are unlikely and adjusted positions accordingly resulting in flows into the single currency.
US DOLLAR TECHNICAL ANALYSIS - Prices are stalling at support in the 10520-25 area marked by the February 17 low and the 38.2% Fibonacci expansion after breaking a rising trend line set from September 2012.
March 7 (Reuters) - Speculators further trimmed bullish bets on the U.S. dollar in the latest week, with net longs sliding to their lowest in four months, according to data from the Commodity Futures Trading Commission released on Friday.
Feb 28 (Reuters) - Speculators reduced bets on the U.S. dollar in the latest week, with net longs falling to their lowest in nearly four months, according to data from the Commodity Futures Trading Commission released on Friday.
A two-week slide in China's currency gained momentum on Friday, with the yuan falling the most in two decades as Beijing seeks to shake out speculators betting on a one-way rise and curb short-term money inflows.