Market Moving News: GBP/USD - Jan 13

By IBTimes Staff Reporter | January 13 2010 1:21 AM

GBP/USD - 1.6203.. Although sterling fell in tandem with euro at Asian opening to 1.6137, price rebounded to 1.6193 n now higher as a delayed reaction to Reuters news which came out b4 Tokyo opening on comments by Andrew Sentance, he is one of the BoE's policy-makers n said in a UK newspaper interview that 'we are approaching the point where we need to hold back and wait and see how that is flowing into the recovery'. Indicated mixture of stops & offers at 1.6200/10 have been triggered/absorbed by st specs as they expect London traders will react positively to this news. Some more offers are placed near last Monday's high of 1.6242 with stops now building abv there. Bids have been raised to 1.6160/70.

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