Forex News Traders

[Ataglance2]

02:27 GBP/USD: Edging Higher As Northern Rock Factor Wanes For Now Sydney, February 18: The GBP/USD is edging back towards 1.9600 and Friday"s 1.9610 close, as the negative effect of the news that Northern Rock has been nationalized has faded slightly. Analysts point out that many in the market thought that moves taken by the government were inevitable anyway and have been greatly priced into the GBP since the UK home lender got in trouble last year. They also point out that Germany has also used public money in to support ailing banks without too much damage being done to the Euro as a result.
There might be another round of GBP selling once London returns as headlines about reputation damage done to the UK financial services sector could affect sentiment. The GBP/USD trades 1.9594/99