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by Adam Solomon Sterling / Euro and US Dollar Sterling deteriorated against the U.S Dollar during trading yesterday breaking key support level at 1.5550, trading down towards a low of 1.5375 on interbank. Sterling also deteriorated against a basket of major currency pairings following the news of a 0.1% downward revision to Q3 GDP growth in the UK. The adjustment in itself was minimal, however at the same time it has increased concerns over the strength of the economic recovery and raised...
by Jon Beddell Foreign Currency Market Update - GBP / AUD Update Sterling has been in the doldrums the last couple of weeks, treading water against the Euro which has problems of its own, but losing ground against most other currencies, most notably the Australian dollar. On the economic front inflation remains stubbornly above the Bank of England's target at 3.3%, and one survey showed that consumers are expecting a further increase in the rate of price rises in 2011. This tends to...