The Sterling (GBP) struggled to bounce with EUR/GBP failing to fall and Cable tracking the EUR/USD lower. Cable slipped below 1.5600 and is looking weak with UK bank exposure to Irish debt linking the currencies fate. Overall the GBP/USD traded with a low of 1.5591 and a high of 1.5770 before closing the day at 1.5615 in the New York session. Looking ahead, October Mortgage Approvals is forecast at 47k vs. 47.5k previously.
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