Forex: GBP/USD rises to session high at 1.5422

on Jun 24, 2013

During a quiet Asian session today, lacking fresh economic data, the GBP/USD was range-bound between a 1.5398 session high and 1.5342 session low.

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Mid-way through the European session, the Chicago Fed National Activity Index (CFNAI) came out, showing an increase to -0.30 in May from -0.52 in April. The index is designed to gauge overall economic activity and related inflationary pressure. The negative value indicates below-trend economic growth, with values from zero up indicating that the economy is expanding relative to its historical rate of growth.
The GBP/USD rose to a new session high at 1.5422 following the release, a gain of 0.37 percent to this point in the day.