GBP Trading Outlook (13-06-2011)
The Sterling (GBP) was under pressure in the risk off climate but did well against the Euro with some rare gains against the single currency. EUR/GBP reversed from 0.8900 to fall back to lower 0.8800 level and could fall back further if the Greece fears spread to more European countries debt. Overall the GBP/USD traded with a low of 1.6217 and a high of 1.6382 before closing the day at 1.6231 in the New York session. Looking ahead, Bank Holiday.
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