Market Moving News: GBP/USD - Jan 15

on January 15 2010 1:23 AM

GBP/USD - 1.6327.. Cable's gain in Asia was by default as report of huge sell eur/gbp order exacerbated eur/usd's intra-day decline, such cross buying of sterling pushed price twice abv y'day's NY high of 1.6342. The pound has finally eased fm 1.6357 but buying interest is still there. Stops are reported below NY low of 1.6249 n offers are probably in the region of 1.6370- 1.6400 as the rally seen in last few days was of speculative nature plus heavy unwinding of eur/gbp.

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