Posted by Zeb BhamForex dealers may be impacted by the news that sterling held steady in markets yesterday (August 31st).According to Reuters, the British currency was slightly above the level of $1.6255 seen the previous day to trade at $1.6305, as analysts awaited further clues from purchasing managers index (PMI) surveys due later this week.Meanwhile, the euro remained close to its month's best performance of 88.87 at 88.55 pence.Currency strategist at CIBC Jeremy Stretch stated the pound is seen as less of a safe-haven for investors than previously, although this could be impacted by the forthcoming data."It's likely to be back towards the 1.60/1.61 area against the dollar if UK PMIs confirm the outlook for the economy is subdued at best," he said.This follows comments made earlier this week by Marcel Bross, a Commerzbank strategist, who suggested the European Central Bank will be keen to ensure a new five-year benchmark for Spain proves successful.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site