A Bernanke Boost for Markets

andres del risco

Yesterday, there was a renewed bout of improved risk sentiment following robust European economic data and dovish comments by the US Federal Reserve (Fed) Chairman, which suggested the possibility of further Fed action to stimulate economic growth. This morning, the major currency pairs seem to have taken a breather and are trading in a tight range. Following weak German consumer confidence, traders now await US consumer confidence and S&P/Case-Shiller housing data due later today.

At home, with only a CBI distributive trades survey on tap later today, general market tone is likely to govern movement in Sterling against the majors.

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