GBP Slides of Data, Oil Soars

The major mover in the currency market on Wednesday was the sterling, which sold off against the dollar following a series of weaker than expected economic reports.

The rest of the major currency pairs remained within a narrow trading range versus the greenback.

Crude oil soared to its highest level in 7-weeks above the $66/barrel mark on Wednesday following a report released by the EIA.

Consensus forecast for US gasoline supplies was for a decline of 1.3 million barrels.

Instead, the EIA reported a sharp 5.4 million-barrel drop.

$WTIC - Light Crude
$WTIC – Light Crude


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