Market Moving News: GBP/USD - Feb 23

By IBTimes Staff Reporter | February 23 2010 12:05 AM

Gbp/usd - 1.5395 ... Although U.S. dollar briefly pared some of early gains against major ccys after the release of weaker-than-expected U.S. CPI data which rose by 0.2% versus the expectation of a rise of 0.3%. The core CPI dropped by 0.1% instead of economists' forecast of a rise of 0.1%, the British pound met renewed selling interest at 1.5421 n weakened again. Offers are tipped at 1.5415/20, 1.5440/50 with stops seen abv 1.5460/65. On the downside, some bids are located at 1.5370/75 n 1.5350 with stops building up below 1.5340 n 1.5300.

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