Tuesday 27 September 2011

GBP/USD Off 4-Day High As Euro Zone Concerns Weigh

Sterling fell against the dollar Tuesday, the euro area is less than the current debt crisis, and concerns about the withdrawal of more than four days tracking the euro weighed on risk appetite.

GBP / USD fell 0.14%, 1.5598 1.5541 in early European trade to hit on Sept. 21 left the high torque.

Cable, low resistance to high 1.5431 1.5746 Monday September 21 is likely to find support.

The emotion rather than speculation European market leaders found the European financial stability is supported by examining ways to strengthen the recovery in the euro area.

However, concerns about the failure of Greece the austerity measures of the Greek government at the end of the day weighed before the new round of voting. To access a part of Greece in the coming months to help EUR8billion struggling to meet financial goals.

Sterling at 0.8701, EUR / GBP lower against the euro to 0.08% with ease.

Also Tuesday, the Bank of England, the U.S. consumer confidence data to produce the way to talk to Adam Posen.

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