Gbp/usd - 1.6514 ... Despite cable's brief bounce fm 1.6486 to 1.6609, the British pound tumbled after the release of much weaker-than-expected U.S. consumer sentiment. The University of Michigan survey dropped to 63.2 in August, comparing with the forecast of 68.5 n well below July's reading of 66.0. Offers by various accounts are tipped at 1.6550 n 1.6590/00 with stops seen abv 1.6610. On the downside, bids are located at 1.6490 with stops seen below 1.6480/85, however, demand fm real money accounts is reported at 1.6440/50.
Join the Discussion