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

By IBTimes Staff Reporter | March 31 2010 8:04 PM

The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5185 level and was supported around the $1.5040 level. Data released in the U.K. today saw GfK March consumer confidence tick lower to -15 from -14 in February. March PMI manufacturing data will be released tomorrow and liquidity will be light early next week on account of the U.K. Easter Monday market holiday. Cable bids are cited around the US$ 1.4455 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the £0.8945 level and was supported around the £0.8870 level.

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