Intraday Market Thoughts

Archived IMT (2009.11.11)

by Ashraf Laidi
Nov 11, 2009 10:43

Sterling rallied to $1.6797 high after UK Oct unemployment rose by 12.9K, less than the exp 20K. The BoE inflation report also helped GBP when it stated inflation would rise sharply in the medium term, before later pulling lower across the board after King said weak GBP helped rebalance exports from imports, Double top on GBPUSD 4hr chart targets $1.6580. EURGBP eyes 0.9070. GBPCAD (as mentioned in yesterday's IMT) is slated for further losses towards 1.73.


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