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Market Moving News: GBP/USD - May 16

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16 May 2008 @ 12:50 am EST
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Gbp/usd - 1.9476...Cable has maintained a relatively firm undertone this morning on speculation that the inflation risks in the U.K. economy will prevent the BOE fm cutting interest rates at its next meeting, however, on the other hand, the weak housing market continues to act as a counterbalance. Offers are lined up at 1.9500 n 1.9520/30 (option barrier remains further out at 1.9600) while on the downside, bids are noted at 1.9430/40 with sizeable orders seen at 1.9400 (stops have been placed below here)...

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