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

By @ibtimes on

The British pound appreciated sharply vis-à-vis the U.S. dollar today as sterling tested offers around the US$ 1.6700 figure and was supported around the $1.6570 level.  Traders chased sterling higher as demand for risk intensified despite the U.S. government's calls for a strong U.S. dollar.  Bank of England Governor King has been trying to steer sterling lower by suggesting the central bank may continue to expand its asset purchase program.  Cable bids are cited around the US$ 1.6410 level.  The euro moved lower vis-à-vis the British pound as the single currency tested bids around the ?0.8905 level and was capped around the ?0.8965 level. 

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