Tuesday, 1 September 2009

Sterling weakness Following Weak PMI and Mortgage approval data GBP EUR GBP USD GBP AUD GBP NZD GBP ZAR

Today has seen Sterling lose ground against a basket of major currenices, following much worse than expected mortgage approval and PMI data this morning.

This has continued Sterlings slide in the wrong direction and now has analysts posing the question - just how much further will it go before we start to get better???

Personally I believe it will get ever so slightly worse before it gets better but at present Sterling is still majorly undervalued so I am merely looking for data to start to become slightly more positive before we start the turn around.....

All eyes are on quantitative easing announcements in the coming weeks as these seem to be one of the major talking points at present, and one of the data releases that is assisting Sterling's decline.

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me

www.currencies.co.uk


Have a great day and thanks for reading!

Daniel Wright

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