US: Richmond Fed Manufacturing Index drops to -6 in February

FXStreet (Barcelona) - The US Richmond Fed Manufacturing Index declined to -6 in February from 12 in January, the Federal Reserve Bank of Richmond informed today. This is the lowest level registered by the indicator since July 2013 when it stood at -11.

Feb 25, 2014

GBP supported on poor US data

GBP/USD has been above the 200 DMA again and was through onto the 1.67 handle prior to the poor Consumer Confidence data from the US.

GBP reverses course dramatically, 1.6665

GBP/USD had been bid on the day and even post the Consumer Confidence data that should have been dollar negative. Some time post the release a steady cable suddenly dropped out of the skies and is finding a base 40 pips lower in the 1.6660's - yet to be fully explained although Fed's Tarullo has been speaking and Gold is making fresh highs.