GBP/USD Drifts Back Towards 1.65
November 24, 2009 - 2:30 pm by Primefx · Leave a Comment
The Cable is drifting lower towards its psychological 1.65 level after BBA Mortgage Approvals and Prelim Business Investment came in mixed. While business investment registered a modest improvement, mortgage approvals printed a bit weak. The moderation in mortgage approvals supports last week’s statements from Nationwide and Bloomberg concerning a slower than expected recovery in Britain’s housing market.
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