Market Moving News: GBP/USD - Nov 16

16 November 2009 @ 12:05 am EDT

Gbp/usd - 1.6583 ... Cable's decline y'day was somewhat limited due to cross unwinding in sterling (eur/gbp tumbled fm 0.9066 to 0.8945 n gbp/jpy rebounded fm 148.30 to 150.02) as traders took profit on short positions entered on Wednesday following BoE Governor Mervyn King's bearish comments. Offers remain at 1.6620/30 n 1.6650/60 with stops tipped further out at 1.6700. On the downside, bids are lined up at 1.6520/30 n 1.6500 with stops placed below latter lvl...

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