Tuesday, October 12, 2010

GBP: Cable feels surprisingly good, especially given the weak data this morning

Strengthening of the dollar against the backdrop of the night cable felt surprisingly good, especially given the weak data this morning. British consortium of retailers reported that sales at stores open at least a year ago, grew by only 0.5% compared with last year last month, which is very sluggish and result in sharp contrast with the results of CBI.

The latest study confirmed the weak RICS house prices in Britain, with a net balance of experts, expected growth in prices had fallen to -36 in the last month from -32 in August, which was sixteen minimum. In addition, the British Chamber of Commerce argues that the British economy "has slowed in the third quarter against a background of weak sales of manufacturers and service companies, and urged the Bank of England to the additional purchase of assets by 50 billion pounds. Stability of the pound over the last 24 hours or so, followed by a period of undervaluation in a few weeks. Remains to be seen, not would it be a price dynamics of a simple misfire.

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