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Market Moving News: GBP/USD - Oct 14

14 Oct, 2008 @ 12:11 am EST
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Gbp/usd - 1.7088 ... Despite the cable's early selloff to 1.6861, price rebounded strongly fm there due to heavy cross-related demand (vs euro n yen). At the moment, active buying interests fm st specs are noted fm 1.7070 down to 1.7030 with mixture of bids n stops emerging below 1.7000 n 1.6945/50. On the upside, offers fm 1.7050 to 1.7080 had been removed n stops placed abv 1.7100/10 are now in focus, however, fresh offers are reported further out at 1.7145/50 n 1.7170/80.

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