The British pound could get back above 1.6 versus the greenback underpinned by improving of the risk appetite during the US session after better than expected release of Nov US Philadelphia Fed manufacturing index came at 22.5 and it was expected to be just 4.5 to calm down the markets after this week shock of US New York empire states manufacturing index of October massive falling to -11 while the market was waiting for 11!. The British pound has been already supported by stronger than expected UK retail sales of October came up monthly by .5% and it was waited to be just .2% after falling in September by .5% and another CPI release of October came this week above 3% at 3.2% yearly which could maintain to the market the BOE worries about the upside inflation risks and cooling it down from taking further easing steps to stimulate the economy which is expected to show growing by 0.5% q/q as The National Institute of Economic and Social Research has expected in the third quarter.

The British pound is still trading around 1.6 versus the greenback underpinned by another CPI release of October above 3% at 3.2% yearly which maintain the BOE worries about the upside inflation risks and cooling it down from taking further easing steps to stimulate the economy which is expected to show growing by 0.5% q/q as The National Institute of Economic and Social Research has expected in the third quarter. The British pound has been underpinned recently by the BOE keeping of its buying bonds plan as it is worrying about the inflation outlook for the second consecutive meeting against wide markets expectations of exceeding its plan more than it is currently at 200B Stg specially after the recent decision of the Fed of adding another 600B to its adopted quantitive easing policy of its buying of US treasuries till the end of June 2011 keeping its mortgages baked securities buying program at its same rate which is about 35B$ a month...

The greenback could gain momentum today pressing of the single currency to get down below 1.37 before bouncing above 1.38 again during the Asian session. The greenback has been underpinned since the positive release of US non-farm payrolls release of October by the end of last week which has shown adding 151k after losing 41k in September while the market was waiting for adding just 60k after October ADP Non-farm Employment change came earlier at 43k while it was expected to be 25k has dragged the single currency down to close last week at 1.403 versus the greenback retreating currently below 1.395 as these bullish data encouraging the investors to take profits buying back the greenback after it has faced strong selling across the broad after the Fed's decision to provide 600B$ package of buying new debts...

The positive US non-farm payrolls release of October by the end of last week which has shown adding 151k after losing 41k in September while the market was waiting for adding just 60k after October ADP Non-farm Employment change came earlier at 43k while it was expected to be 25k has dragged the single currency down to close last week at 1.403 versus the greenback retreating currently below 1.395 as these bullish data encouraging the investors to take profits buying back the greenback after it has faced strong selling across the broad last week after the Fed has decided to provide 600B$ package of buying new debts while the market was waiting for a number from 300B$ to 500B$ but this came as a shock to the greenback which has fallen across the broad getting the Aussi above parity and the Asian currencies which have higher interest rate outlook currently for cooling down the prices and also the cable to 1.6298 and ...