Sterling Commentary for 9-Feb-10

Sterling Commentary
Tables & Charts

The British pound moved lower vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5533 level and was capped around the $1.5625 level. Chancellor of the Exchequer Darling reported he fully supports Bank of England’s asset purchase pause that was announced on Thursday, adding the U.K. gilt market responded well. BoE has recently announced the weaker pound has benefited the U.K. economy. The central bank will publish its quarterly inflation report and new economic forecasts on Wednesday. In November, the central bank estimated 2010 economic growth of 2.2%, rallying to 4.1% in 2011. Most BoE-watchers believe the central bank will reduce its growth forecast this week and will likely see inflation around 2% in two years. Cable bids are cited around the US$ 1.5340 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the £0.8795 level and was supported around the £0.8730 level.

SUPPORT   RESISTANCE

 
L1.       1.5755 1.6215 
L2.       1.5355 1.6530 
L3.       1.4950 1.6890
Sterling Focus
 
Day's Change 52-Week High 52-Week Low

Instrument

Current

 Points % Date Value Date Value
Exchange Rates

9-Feb-10
EUR/GBP Fwd-1 Yr This marker indicates the current chart. -  -  -  12-Mar-09 2,249.0000 -  - 
GBP/AUD This marker indicates the current chart. 1.7842 -0.0149 -0.84% 23-Feb-09 2.2546 8-Jan-10 1.7323
GBP/CAD This marker indicates the current chart. 1.6635 -0.0099 -0.60% 29-Jun-09 1.9218 12-Oct-09 1.6353
GBP/CHF This marker indicates the current chart. 1.6640 -0.0093 -0.56% 7-Aug-09 1.8035 10-Mar-09 1.5978
GBP/EUR This marker indicates the current chart. 1.1348 -0.0056 -0.49% 16-Jun-09 1.1840 18-Mar-09 1.0581
GBP/JPY This marker indicates the current chart. 139.6400 0.1700 0.12% 7-Aug-09 162.7200 11-Feb-09 129.5900
GBP/USD Fwd-1 Yr This marker indicates the current chart. -44.0000 0.0000 0.00% 10-Mar-09 70.2000 24-Nov-09 -66.5000
USD/GBP This marker indicates the current chart. 0.6421 0.0016 0.24% 10-Mar-09 0.7260 5-Aug-09 0.5889
 
Interest Rates

9-Feb-10
USD 3M LIBOR This marker indicates the current chart. 0.2500% 0.0000% 0.00% 10-Mar-09 1.3310% 3-Feb-10 0.2490%
 
Indices

9-Feb-10
NASDAQ This marker indicates the current chart. 2,126.05 0.00 0.00% 19-Jan-10 2,320.40 9-Mar-09 1,268.64
 

source: DTN Market Access

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