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HISTORICAL DETAILS
% Change
1 Wk 1.31%
1 Month 2.36%
3 Months -1.76%
6 Months 3.27%
1 Year 5.89%
52 WEEK
High 1.6747
Low 1.5251
BLOOMBERG MEDIAN FORECASTS
Q2 2011 1.63
Q3 2011 1.61
Q4 2011 1.63
Q1 2012 1.62
DAILY DETAIL
Sterling finished Monday’s session lower against the greenback, its second consecutive fall despite opening higher yesterday morning. It traded to a high of 1.6340, before retreating all the way down to a low of 1.6260 and closing at 1.6273. There wasn’t a lot in the way of news, although UK mortgage approvals for home purchases rose to 31,747 in June from 30,803 in May. While this is a positive sign, it had very little impact as traders remained focused on the bigger macro issues in play, especially ahead of tonight’s Q2 GDP release. As it stands, the market is expecting Q2 GDP growth of 0.2%, down from growth of 0.5% seen last quarter. A stronger-than-expected figure would likely see upside for cable as it would combine with the weaker US dollar to attract long positions. Ben Potter, Australia
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