Concerns about its European trading partner dragged the Pound lower against the greenback. Target for the initial primary decline is $1.53*.
* Target calculation: 1.59 – ( 1.65 – 1.59 ) = 1.53
The Swiss Franc is now headed for a test of parity against the greenback, dragged lower by its peg at €1.20.
* Target calculation: 1.20 – ( 1.40 – 1.20 ) = 1.00