Friday, October 26, 2012

Market Outlook 10/26/2012

GBP/USD The pound climbed the most in three weeks against the dollar after Britain’s economy expanded by more than analysts forecast in the third quarter, pulling the nation out of a recession.
The pound added 0.6 percent to $1.6128 at 4:21 p.m. London time, after rising as much as 0.7 percent, the steepest gain since Oct. 4.

USD/JPY The dollar may strengthen to a six- month high against the yen should it break through a level of so-called resistance, Credit Suisse Group AG said, citing trading patterns.
The dollar gained 0.5 percent to 80.20 yen at 4:15 p.m. London time, extending this month’s advance to 2.9 percent. The U.S. currency last traded at 81.49 yen was on April 25.

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