Forex7 Posted December 11, 2012 Report Share Posted December 11, 2012 At today’s trading (11/12, 03.11 GMT) the Pound sterling currency rises against US Dollar. The Pound opened at 1.6071 in early trading (00:00 GMT), and climbs + 4 pips or about + 0.02% at 1.6075. The favorable sentiment against The Pound is seems to be rising , before Debt Management Office reports a latest data of average yield on 10-year bonds the government sold at auction, and the bid-to-cover ratio of the auction. 10-y Bond Auction might shows a more positive signals from previous period of 1.82|1.9. Vibiz Consulting Analyst said there is a chance the U.K’s bond auction will shows a favorable signals as the rise in political uncertainty in Italia might drives investor to seek another bonds instrument. Italian 10-year bond yield rose nearly a quarter of a percentage point higher to 4.75%, its highest level in nearly two weeks, after Prime Minister Mario Monti said he plans to resign once Italy's 2013 budget is approved. Prime Minister Monti's hand was forced after former Prime Minister Silvio Berlusconi's party withdrew its support for the technocratic government. Mr. Berlusconi also indicated he wanted to return to politics. The current parliamentary term was due to expire before the end of April, but Mr. Monti's early resignation will hasten a return to the polls. The normal range of GBP/USD is estimated to have the support level at 1.6023 and resistance level at 1.6106. Quote Link to comment Share on other sites More sharing options...
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