Intra-Day Market Moving News and Views GBP/USD
2 Apr 2014 05:40GMT
GBP/USD - 1.6793.. Cable has moved relatively sideways with a soft bias in last 2 trading sessions following a retreat fm last Thur's fresh 4-1/2 year peak of 1.6843.
A piece of w/end news which may stir up renewed spec buying of sterling. Reuters reported today, citing source fm The Sunday Times, U.S. pharmaceuticals giant Pfizer Inc may come back to bid for British drug company AstraZeneca Plc after its reported "60 bln pound" takeover approach was rejected.
The newspaper said no talks were currently under way after AstraZeneca resisted the approach. AstraZeneca CEO Pascal Soriot, will also come under pressure to address the reported Pfizer takeover when he presents half-year results on Thur. Therefore, wud be interesting to see how current M&A deal develops, so pay attention to the further breaking news on this topic.
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