Market Moving News: GBP/USD - Nov 20

20 November 2009 @ 10:35 pm EDT

Gbp/usd - 1.6525 ... U.K. Nationwide house price rose by 0.4% m/m n 2.0% y/y in October versus the expectation of 0.6% m/m n 1.8% y/y gain respectively. The British pound weakened briefly to 1.6507 b4 rebounding, suggesting further choppy sideways trading wud be seen until U.S. opening as investors are focusing on the release of U.S. core PCE, Chicago PMI n University of Michigan survey for more clues on U.S. economy. Bids are reported at 1.6507/10 with stops seen below at 1.6500 but more demand is located at 1.6475/80. On the upside, offers are noted at 1.6570 n 1.6600.

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