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HISTORICAL DETAILS
% Change
1 Wk -0.46%
1 Month -2.18%
3 Months -1.53%
6 Months 2.81%
1 Year 5.56%
52 WEEK
High 1.6747
Low 1.4949
BLOOMBERG MEDIAN FORECASTS
Q2 2011 1.63
Q3 2011 1.63
Q4 2011 1.63
Q1 2012 1.63
DAILY DETAIL
Cable had a strong session on Friday night as a better-than-expected PPI figure and the disappointing US non-farm payrolls number combined to boost buying interest in cable. GBP/USD finished the session at 1.6043, after hitting an intraday high of 1.6076. This came as the US dollar weakened against the pound, and as money managers looked to diversify away from the US dollar. The PPI reading came in at 0.4%, versus expectations of only 0.1%. This will likely have very little impact on how the Bank of England views interest rates since; although slightly higher than expected, it continued to show a marked easing in lofty producer price inflation. In Asian trade, cable has opened the session sharply lower, and is currently at 1.6021 on the back of widespread risk aversion following renewed concerns over European debt contagion, Italy in particular. With little on the economic calendar tonight, trade is going to be driven by overall risk appetite and how the euro moves in response to these concerns in Italy. Ben Potter, Australia
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