The safe haven sterling rallies on. After a dip in GBP on weak UK trade balance numbers, the $GBPAUD, $GBPCAD, $GBPNZD, and $EURGBP continued on in their strong sterling bull trend. The only currencies that gained on the safe sterling today are the almighty rulers of risk aversion: the greenback and yen.
- Yields on UK government bonds drop to record low at 1.87% (The Guardian)
- Austerity Under Fire: One Of Several Economic Drags On The U.K. Vs. The U.S. (Seeking Alpha)
- RBA hints at further rate cuts (The Sydney Morning Herald)
- Commodities at five-month lows (FT)
- UK PMI Manufacturing Exports (Markit Economics) [chart]
- GBPUSD Update (50’s Blog)
- GBPUSD Daily Chart (yfrog)
- EUR/GBP Daily Outlook May 15, 2012 (Daily Forex)