Concerns within the housing industry will probably expose Sterling to selling pressure in 2005, though it's nonetheless possible Sterling selling will reverse in January and that the bank is going to need to raise interest rates. In the brief term, Sterling is liable to weaken back to 0.71 from the Euro. Volatility from the US currency will last and, general, Sterling should seek out support below 1.90 at the brief term, maybe in 1.8960.
Sterling strengthened into a top of 0.7045 from the Euro in Asia, however, it had been not able to sustain the profits and dropped back to 0.7075 in ancient Europe on Monday. UK financial markets have been closed on Monday along with also the tendencies on Tuesday is going to be significant for the near-term management of Sterling.
There'll be speculation that the UK housing market damage the market and will slow. These concerns will probably expose Sterling though strong December sales statistics will help alleviate the pressure .
Reply With Quote
