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PostPosted: April 24th, 2012, 2:15 pm 
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Joined: February 20th, 2012, 2:57 pm
Posts: 42
Halo

As mentioned above, Sterling is contending with inflation data and the eagerly anticipated budget statement. The US Dollar is contending with investor confidence fuelled by improving economic data balanced against the nervousness over what Europe and China are doing to the pace of global economic recovery. We will await the budget with interest but no real expectation of substantive change and we approach this week’s plethora of US housing market data with the expectation that the figures will reflect a slight improvement in sentiment. If all of those expectations are accurate, not a lot will change in the Sterling - US Dollar exchange rate. The current range of $1.5580 to $1.5850 is intact. If the top of that range gives way, we will see a sharp advance to the February high (just below $1.60). If Sterling capitulates, a drop to $1.5460 is the most likely scenario.


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