Corporate foreign exchange news

Pound finds resistance in Asian foreign exchange trading

Wednesday, 23 September 2009 09:31:06 GMT

The GBP/USD currency pair has found resistance at the $1.6400 mark in early trading in Asia on Wednesday (September 23rd), with sterling failing to breach this barricade ahead of the opening of markets in London.
FX Street reported that the currency faces resistance at the aforementioned $1.6400 mark - its lowest level on September 15th - and above here at $1.6430 (Sept 16 low) and $1.6485.
However, the ecPulse analysis team are predicting upside intraday and short-term trends, with a target of between $1.6500 and $1.6635 set for the end of trading today.
Sterling suffered a poor start to the week's trading on Monday but made headway in trading yesterday.
With the euro, the pound was consolidating gains this morning amid choppy equities trading in Asia.
Analysts are looking ahead to the US Federal Reserve policy statement due to be made later today and are expectant that the central bank will vote to keep interest rates on hold.ADNFCR-2522-ID-19373810-ADNFCR
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