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Posted November 26th, 2010 by Charles Purdy

USD/GBP Rate & Comments for 26th November 2010

US$/GBP – 1.5695

Sterling was undermined by comments from the Bank of England governor Mervyn King, who said “strong action” against inflation could destabilise the economy.  Sterling continues to follow trends from events in the Eurozone as it reversed gains against the Euro following comments by ECB member, Axel Aeber who indicated that Europe’s rescue fund of 750 billion Euro’s could be increased if necessary.
Bond markets were quiet yesterday due to the Thanksgiving holiday in the US which suppressed volumes and with an early close once again in the US today we can expect trading volumes to remain range bound until trade resumes on Monday.  The US Dollar has been stronger across the board today with North Korean comments heightening tensions in Asia and leading to a flight to safety.

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