UK Feb CBI Distributive Trades Survey - Realized (MoM) falls to 8 vs 17 (Jan)
Feb 26, 2013
Forex: GBP/USD back to 1.5200 after comments from BoE officials
Contrary to most European currencies, the British Pound strengthened against the greenback as it corrects from the sharp sell off seen lately after hitting as low as 1.5074. The GBP is also acting as a safe haven against Euro troubles as Italy faces political uncertainty after yesterday's election results.
Yesterday’s breach of the 0.8800 level seems like a wayward dream a day later, as the EUR/GBP has found itself trading considerably off its European highs just 24 hours ago. An earlier attempt at the upside was stonewalled at the 0.8643 region (session high), reversing the pair and driving downwards into negative territory. With the turmoil continuing in Italy and on the heels of UK data, the cross has settled in the area of 0.8610/11 in these moments.