Sterling feeling the pressure again
Disclaimer: THIS MATERIAL IS NOT INVESTMENT RESEARCH AS DEFINED BY THE FINANCIAL SERVICES AUTHORITY
Sterling is feeling the pressure as CBI sees UK economy shrink by 3.9% in 2009. After a great week against the Euro where sterling closed close to the highs, the pound is under fire this morning after falling from a high of 1.1365, currently trading at 1.1227. The CBI data is pointing towards growth in Spring of 2010.
Since the middle of last week the US dollar began to fight back against the pound, as investors begin to hide back in the US dollar prior to the release of corporate earning figures due this week.
Monday 20 April 2009, 01:01pm
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