Market Moving News: GBP/USD - Aug 22

22 August 2010 @ 12:35 pm EDT

Gbp/usd - 1.5595 ... Cable fell sharply fm 1.5672 to 1.5585 in NY mid-day on dlr's broad-based strength as the weak U.S. economic data released earlier fueled concerns over the U.S. economic recovery n investors flocked into U.S. Treasury on flight to safety. U.S. St. Louis Fed President James Bullard said that U.S. Fed may need to ramp up its purchases of U.S. Treasury debt if price lvls in U.S. continue to show signs of softening.

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