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HISTORICAL DETAILS
% Change
1 Wk 1.05%
1 Month 2.46%
3 Months -0.24%
6 Months 2.72%
1 Year 5.35%
52 WEEK
High 1.6747
Low 1.5297
BLOOMBERG MEDIAN FORECASTS
Q2 2011 1.63
Q3 2011 1.61
Q4 2011 1.63
Q1 2012 1.62
DAILY DETAIL
Sterling finished Friday’s session higher after a pretty wild ride throughout the trading day. It finished Friday’s session at 1.6410 after trading as high as 1.6468 and as low as 1.6259 on volatility created by the uncertainty over the US debt ceiling debate. However, in Asian trade this morning, sterling opened the new week modestly higher at 1.6473 before drifting to a session low of 1.6384. However, the last half hour has seen President Obama address the nation, informing them that a deal has been struck on the debt ceiling stalemate. It is expected to be voted through both houses tomorrow. This has seen risk currencies rally across the board, including sterling which has just hit its session high of 1.6473. Looking ahead, the big economic release this week will be Thursday’s interest rate decision from the Bank of England. The market is expecting the central bank to keep rates unchanged at 0.5%, as the Monetary Policy Committee remains focused on economic growth rather than the uncomfortably high inflation levels. Ben Potter, Australia
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