Sterling Digest, May 18 2012: Facebook Friday

Mark Zuckerberg rings the Nasdaq bell from California Zef Nikolla/AP

Mark Zuckerberg rings the Nasdaq bell from California (Zef Nikolla/AP)

$FB is so hot that Nasdaq brought the bell to them. However, $FB Friday didn’t change profit-taking week end flows leaving sterling a mixed bag on the week. $GBPNZD has been a monster breaking out to new highs again this week. $GBPAUD and $GBPCAD, meanwhile, chopped around in wide ranges. And the $GBPJPY and $GBPUSD fell hard. A $GBPUSD close BELOW 1.58 is as big a deal as a close below 125.00 is for $GBPJPY. Those cracks we noted all week in this digest seemed to widen a bit more today.

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