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GBP/USD deflates to 1.6320 after data

FXstreet.com (Edinburgh) – The pound is now retesting session lows, pushing the GBP/USD to another test of the 1.6325/20 area after UK data.

GBP/USD weaker on data

The pair quickly faded the bull attempt to 1.6350 after Mortgage Approvals rose below estimates to 67.7K during October vs. 68.5K expected and 66.8K from September. Further UK data also came in on the softer side, showing that Net Lending to Individuals shrunk to £1.7 billion inter-month from £2.2 billion previous and M4 Money Supply just expanded at a monthly pace of 0.1% vs. 1.1% expected. In the opinion of Camilla Sutton, Chief Currency …read more