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Why GBPUSD is Bid

Why GBPUSD is Bid

5 Years ago | June 18, 2015 00:00:00

On April 8, 2015 Royal Dutch Shell announced a GBP47 billion takeover bid for the UK energy supplier BG Group. GBPUSD bottomed on April 13 at 1.4566 and has been moving in an erratic pattern higher, vs. the dollar and on various crosses, ever since. Part of its recent gains can be attributed to safe haven buying out of a growing Grexit risk but there may be more to it as I will explain.

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