Market Moving News: GBP/USD - May 9

By IBTimes Staff Reporter | May 09 2010 9:02 PM

GBP/USD - 1.4868.. Cable also opened higher in tandem with euro in NZ, rising to 1.4894 as w/end news of coalition bewteen the Conservative party n the smaller Liberal Democrats to become U.K. new govt. has led to short-term spec buying of sterling as well as crosses. Stops are touted abv 1.4900 n buying interest has been raised to 1.4800-1.4790 area. Choppy trading is expected to continue until London opens.

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