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Posted May 28th, 2012 by Charles Purdy

USD/GBP Rate & Comments for 28th May 2012

US$/GBP – 1.5698

Sterling remained fairly range bound on Friday due to a relatively light day on the data front across the world. The main data out of the UK this week is the Manufacturing Purchasing Managers’ Index (PMI) as well as the bench mark 10 year bond auction. With a bank holiday in much of Europe and the US, trading volumes will be down on Monday; but, there is still the potential for a lot of volatility so call in now for the latest news and a live quote.

The US dollar performed well again on Friday as risk aversion drove the market. Data released showed the University of Michigan consumer sentiment came in above expectations reaching a 4 year high. There is a bank holiday in the US on Monday. The main focus this week will be on the highly influential Non-Farm pay rolls employment data released on Friday. Other data released this week includes US consumer confidence, pending home sales, manufacturing PMI, unemployment claims and preliminary GDP. Call in now for the latest news and a live quote.

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