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Why Did the GBPUSD Plunge on Friday?

Why Did the GBPUSD Plunge on Friday?

3 Years ago | September 18, 2016 00:00:00

The dollar ended the week sharply higher in a forex market that remains highly sensitive to news headlines. As is generally the case, it is the reaction to news that is more important than the news itself. This was the case again on Friday when the dollar firmed following an above consensus US August CPI report and never looked back. A big loser on the day was sterling and its weak showing, as I will explain below, may have to do with more than just the news.

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