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HISTORICAL DETAILS
% Change
1 Wk 0.31%
1 Month 1.79%
3 Months -1.83%
6 Months 3.10%
1 Year 4.82%
52 WEEK
High 1.6747
Low 1.5297
BLOOMBERG MEDIAN FORECASTS
Q2 2011 1.63
Q3 2011 1.62
Q4 2011 1.63
Q1 2012 1.62
DAILY DETAIL
Sterling finished the overnight session slightly firmer as the debt standoff in the US continued to weigh on the US dollar. After falling to a session low of 1.6292, cable spent the remainder of the session recovering, eventually closing near its session high at 1.6371. It had traded lower following the release of disappointing CBI sales data, which came in at -5 for July from -2 in June; the market had been expecting a reading of +1. There had been hopes that the early commencement of summer discounting would have driven sales higher, but this wasn’t the case and only clouds the outlook further for third quarter growth prospects. Looking forward, the next few days of trade are going to centre on developments to the US debt situation, as talks reach crisis point ahead of Tuesday’s deadline. Ben Potter, Australia
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