• GBP/USD Fundamental Outlook at 1500 GMT (EST + 0500)

    The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.6125 level and was supported around the $1.5945 level. Data released in the U.K. today saw GfK September consumer confidence improve to -16 from -25 in August. Also, service sector output fell 0.2% in the three months to July following a 0.6% decline in the three months to June. Chancellor of the Exchequer Darling discussed the government's new policies regarding bankers' pay.
  • GBP/USD Fundamental Outlook at 1500 GMT (EST + 0500)

    The British pound extended recent gains vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5990 level and was supported around the $1.5825 level. Leading City economists met with the Bank of England today and reported the central bank is not planning an imminent move to a Riksbank-style policy mechanism where overnight deposits would be subject to a tax in an attempt to stimulate spending.