Intra-Day Market Moving New and Views GBP/USD
29 Aug 2014
GBP/USD - .... 2 pieces of news to suggest selling eur/gbp cross is the way to go after yesterday's downbeat EZ economic sentiment. Earlier on Fri, data from research firm GfK showed consumer confidence edged up in the U.K. in Aug, driven by the fast improvement of the economy during the last year.
GfK's consumer confidence index increased to +1 in August from -2 in previous month. GfK said the improvement in consumer confidence largely reflects a reassessment of the recent past by households, although people are also increasingly optimistic about the future. However, Nick Moon, MD of social research at GfK said 'There is no guarantee how long this stable position will last - a rush of good or bad economic news could set off a marked rise or fall - but things could stay like this for a while,.'