Archived IMT (2009.05.12)

Sterling is the only major currency not to have broken above its 200-day moving average against the dollar. EUR, CAD, CHF, AUD and NZD have all broken above their 200-day mov avgs against USD, while the dollar index has done so (below its 200p-day MA) last week. Cable will set sight on $1.5380, followed by the $1.56, which is both the 200-day MA and the trend line resistance. Watch Ashraf on Al-Arabiya Channel at 11:35 am GMT.