Forex: GBP/USD: Cable rises above 1.5900 after hitting a fresh 2-month low

 @ibtimes on December 29 2009 1:41 PM

FXstreet.com (Córdoba) - The rally of the Dollar across the board eased in the last hours. GBP/USD tumbled to 1.5860 reaching the lowest price since October 13. From there the pair recovered and rose back above 1.5900. Currently trades at 1.5923/26, 0.46% above today's opening price. The Pound rose during the European session to 1.6068 posting the highest price in a week but then weakened and tumbled more than a hundred pips erasing early gains.

GBP/USD is headed toward a gain of more than 8.80% since January 1st. The pair started the year trading at 1.4605/10.

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