GBP/USD Rates and Comments for 23rd October 2012 – A mixed day for the US dollar
GBP/USD – 1.6014
Sterling dropped to a six month low of 1.2245 against the euro yesterday with increasing confidence in the Eurozone following the regional Spanish elections. Against the US dollar sterling strengthened in the morning only to weaken off in the afternoon. Data showing the number of new UK mortgage approvals in the last month will be released first thing this morning. The main focus though will be on the speech given by the Governor of the Bank of England this evening as investors look for indication of future monetary policy decisions from the Bank of England. So please call in for a price and to discuss the markets with your trader.
The US dollar has a mixed day yesterday, remaining fairly range bound against sterling and the euro as risk appetite increased. There is very little out in the way of data in the US today; but, as always the US dollar will fluctuate due to its safe haven status as risk sentiment changes in the global market. Please call in now for the latest news and a live update.