GBP Trading Outlook (04-04-2011)
The Sterling (GBP) challenged the Euro in volatility stakes plunging through 1.6000 before reversing and soaring above 1.6100 in late US trade. The market is still mixed on the GBP outlook and this is best highlighted in the EUR/GBP which continues to grind higher on Pound underperformance. Overall the GBP/USD traded with a low of 1.5972 and a high of 1.6134 before closing the day at 1.6108 in the New York session. Looking ahead, March Construction PMI forecast at 54.9 vs. 56.5 previously.
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