Great Britain Pound: The Pound continued its slide down despite a report indicating UK manufacturing figures improved to -36 in line with market expectations. The Sterling fell below 1.5560 as concerns over the viability of the UK’s fiscal deficits dominating investor sentiment with Net Public borrowing increasing 4.3 billion. The Cable met with some reprieve and opens at 1.5620 today in the wake of disappointing US leading index results which weakened the Greenback. The GBP is also down against the stronger Kiwi buying 2.2120 after the NZD strengthened on the back of fairly positive US data and stronger commodites.
- I expect a range today in the GBP/NZD rate of 2.2085 to 2.2285
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