After last Friday optimism of US non-farm payrolls figure of October which came at 171k while the market was waiting for 125k and also the upward revision of September figure from 114k to 148k which came supporting the greenback, The British pound is still able to have its feet over 1.6 versus the greenback while it is still keeping the tries to go up versus the single currency pushing it down to be traded versus it around 0.8 psychological level with the market expectations of having new adding to the current Stg375bln BOE assets purchasing plan are easing down as the economy has given good sign in the third quarter could be reliable in the future as UK GDP rose 1% q/q unchanged yearly, while the market was waiting for contraction by 0.5% y/y and growth by 0.6% q/q thanks to London Olympic games.

While the comments which are coming from the EU Summit are showing that there is no banking recapitalization before the banking supervisory which is outlined to be started later in 2013 until now and not in the beginning of it as the Germans are trying to show, the single currency has managed to ease back further with no new news out of the EU Council meeting can refer to a change of the Spanish stance which is looking solider than before denying the need for bailing its banking sector right now and the single currency is trying now hardly to close the week above 1.30 psychological level versus the greenback which is still trying to add more gains in the beginning of the US session after its ability to hold yesterday gains across the broad with persisting of the risk aversion sentiment which could contain the market sentiment following yesterday drop of google stock by nearly 8% because of its unexpected weak Q3 earning report to drive its stock share of profits down to 9.03$ from 10.12$ in the second quarter while the market was waiting for rising to 10.66$.