Market Moving News: GBP/USD - Mar 15

By IBTimes Staff Reporter | March 15 2010 12:05 AM

GBP/USD - 1.5047.. Stop hunting was seen in Australian morning as st specs took cable higher abv y'day's NY top at 1.5067. Although price briefly climbed to 1.5089, lack of follow through buying has pushed sterling lower. Market has not yet reacted to U.K. newspaper Telegraph report of comments made by fixed income director Kornelius Purps of UniCredit (Europe's 2nd largest bank), he told the paper that 'Britain's AAA-rating is highly at risk. The budget deficit is huge at 13pc of GDP and investors are not happy'. Order book is thin n suspect offers are at 1.5085-1.5100 n a mixture of bids & stops are reported near 1.4990/00.

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