Sterling is the weakest link

Monday, 28 March 2011 06:21

Sterling proved to be the weakest link in today's major trading as it slipped to a 60 day low of 1.5935 against the Dollar.  The UK weak economy seems to be impacting the British currency with its slow recovery.

EUR/GBP reached a 4 month high for the Euro by trading at 0.8820, with a 0.8760 daily low.

Belief is that the British pound's edgy descent results mostly from selling constantly against the Australian Dollar.

GBP/AUD is currently trading at 1.5574