Market Moving News: GBP/USD - Jun 11

By IBTimes Staff Reporter | June 11 2010 12:53 AM

Gbp/usd - 1.4720 ... The British pound extended y'day's rally to 1.4733 on improved risk appetites as investors turned modestly optimistic about the pace of the global economic recovery. Active cross buying in sterling also supported cable as traders are bracing for a better-than-expected U.K. industrial n manufacturing production data (08:30GMT) which is expected to rise by 0.4% m/m n 2.2% y/y in April. Bids are located at 1.4695/00, 1.4670/80 n further out at 1.4650. On the upside, offers are tipped at 1.4765/70 with stops building up abv 1.4771 res.

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