Friday, October 1, 2010

Another volatile month-end for Sterling

Sterling feel good during the morning session, winning by a weak dollar and the euro in early sales, which helped him to reach 1.5925. Nevertheless, when the euro was restored during the day with a massive sell off in the end of the month, the sterling again rolled back to 1.57. As a result, EUR / GBP returned to 0.8675 this morning after being touched yesterday morning, 0.8560. For those who have positions in the pound, today's PMI survey will be key. Last month it recorded a significant decline, raising fears that the economy again slipped into recession. Nevertheless, other surveys of industry
were more reliable.
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