wrapper

Sterling - favorite currency to sell at the moment

Monday, Jan 11 2016
There are no data releases from the UK today. Sterling is everyone’s favorite currency to sell at the moment,” said Neil Mellor, a senior foreign- exchange strategist at Bank of New York Mellon as FxEmpire reports. “You have economic news veering on the more negative side, then you have Osborne talking about all the various shocks the UK faces and the Brexit debate.
 
“It is hard to refute the fact that is definitely on the radar now,” he said, referring to a potential British exit from the EU. The Bank of England is expected to raise rates before the ECB is done with its asset purchases program. However, market participants have been pushing out when the first hike will be delivered. This is illustrated by the fact that the December 2016 short-sterling futures contract is made new record highs yesterday
 
Sterling is currently being traded around 1.4560 handle. Pair is likely to find support around 1.45 handle and resistance above 1.4580 level. There will be no major data releases in the rest of the session.
More in this category: « Sentix Investor Confidence slide to +9.6 points Aussie lower in a quiet overnight trade »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.