US ($) Currency Thread 1 (closed - use thread 2)

inspector_monkfish

[Sterling Briefing]

[10:42 GMT April 20] Cable headed south from the European open, en route to an 18-day low of 1.4537 at midday CET, as the continent absorbed the WSJ-reported news that GlaxoSmithKline was close to an agreement to acquire Stiefel Laboratories. The large M&A deal--inclusive of a $2.9bn cash element, was confirmed just before 08:00GMT. 1.4706-1.4815 was today"s Asian session range.

Pre-budget jitters, and a near triple-digit fall in Dow futures, are also weighing on the pound.

The FT reports that UK Chancellor Darling will make a provision for a GBP 60bn UK banking bail-out loss in Wednesday"s budget. 1.4586 (Apr 9 low) and 1.4600 are now sterling resistance levels.

Sell stops below 1.4600 were tripped en route to 1.4537 (1.4604 was the Easter Monday low).
1.4756 was Friday"s low. 1.5069 was last Thursday"s three-month high.

inspector_monkfish

arf'noon chaps
sorry, been a bit busy this morning - hope the above helps explain the [EMAIL="!!!!"]!!!![/EMAIL] morning for GBP !!

inspector_monkfish

figures due out for the week:

TUE: CPI
TUE: RPI
WED: Public Sector net borrowing
WED: Unemployment
FRI: Prelim GDP



plus of course the budget in amongst all that !!
gonna be a choppy week......

jonathanrichardson69

inspector_monkfish wrote: »

arf'noon chaps
sorry, been a bit busy this morning - hope the above helps explain the !!!! morning for GBP !!

thanks IM, hope you had a good weekend.
what are your thoughts for cable this week?
not long til i need to buy now.
:eek::eek::eek::eek:

inspector_monkfish

jonathanrichardson69 wrote: »

thanks IM, hope you had a good weekend.
what are your thoughts for cable this week?
not long til i need to buy now.
:eek::eek::eek::eek:

difficult to say
could argue that any negativity is priced in, seeing as we have fallen from 1.5050 just last week to 1.4570 right now

if figs are worse, we could fall further
if figs are better, we may bounce back up
or the budget could negate all that
who knows mate

jonathanrichardson69

oh well,
it all adds to the excitement off it.
i'm not in as bad a situation than Neil.
he has a lot riding on it.
i'll be happy if i can get 1.45 from the high street.
if its lower then its tough luck i suppose.

whatusername

Wheres that song today?

jonathanrichardson69

"come on pound, turn it round"
"come on pound, turn it round"
"come on pound, turn it round"
"come on pound, turn it round"
do you mean this one?

whatusername

jonathanrichardson69 wrote: »

"come on pound, turn it round"
"come on pound, turn it round"
"come on pound, turn it round"
"come on pound, turn it round"
do you mean this one?

:rotfl:

:T

I knew someone would bite

neilbond007

jonathanrichardson69 wrote: »

oh well,
it all adds to the excitement off it.
i'm not in as bad a situation than Neil.
he has a lot riding on it.
i'll be happy if i can get 1.45 from the high street.
if its lower then its tough luck i suppose.

howdy folks. on a customer site today. can't really do too much surfing when they're paying £800 a day for me
and thanks for the reminder jonny old boy! I was going to try to get £5k changed first thing this morning but have been too busy
that's just the start and the 3c drop means a difference of $150.
i'm trying not to think about it right now. I reckon with all the bad news this week we could be down in the 1.30's again... and right now i don't really want to think of this!!
Back in the office tomorrow so i'll be back online all day