The Pound made gains against the Euro and the Australian Dollar while remaining relatively unchanged against the US Dollar following positive data and comments from BoE policymakers gave again a hint that a recovery in the UK economy could be on the way.UK CBI's retail sales figures came in slightly better than expectedrising from 3 to 8 in October.
The US Dollar made gains against the Euro while as some negative consumer confidence data. Investors are once again using the US Dollar as a safe haven; when negative US data emerges investors sell riskier assets come back to the USD due to the high level of liquidity and diversity of USD financial assets, which offer a certain insurance against excessive exchange rate movements.
Anyone who needs to sell GBP short term should consider using a Limit to take advantage of any pound gains.
Disclaimer: All information on this site is provided for informational purposes only! By no means is any
information presented herein intended to substitute for the advice provided to you by any health care or other professional
or organization.
tweet this!