Thanks to Cyprus, sterling managed to catch a bid last week on European haven flows. To start this new trading week, however, GBP has traded weak with $GBPUSD, $GBPAUD and $GBPNZD all off their highs of last week. Naturally, sterling still remains stronger versus the euro as the Cypriot crisis still remains. With a relatively light news week from the UK, look for sterling to remain mixed as it gains strength against the euro and possibly the USD but remains weaker against the commodity dollars.
- Australian Dollar, British Pound And Siemens Emerge Stronger Post-Cyprus (Seeking Alpha)
- WHAT’S THE POINT OF THE BANK OF ENGLAND’S NEW REMIT? (The Real Economy)
- You can’t make a silk purse out of a sow’s ear (Cooper City)
- MPC Minutes: Concerns Over An “Unwarranted Depreciation Of Sterling” (Forex Live)
- UK 2013 Budget (FxBriefs)
- Cyprus dreams left in tatters (Telegraph)
- Cypriot contagion (FT) [AUDIO]