GBP/USD Market Moving News by AceTrader

GBP/USD – 1.5082.. The British pound extended last Friday’s selloff n remained under pressure in Asia, price briefly tumbled fm 1.5017 to 1.4929 just ahead of Euroepan opening on renewed cross-buying of eur/gbp but London traders bot cable on the cheap n rumour of active buying by Middle East accounts later pushed sterling sharply higher, price rallied to 1.5106 in NY, then 1.5112 at Asian opening. Range-trading is likely to be seen n some offers are touted fm 1.5110-30 area. Watch out for U.K. inflation data due out at 09:30GMT, a higher-than-expected figure will nudge cable higher n if the opposite occurs, the pound may tank instead.