Wednesday, 28 October 2009

A wave of renewed risk aversion

A wave of renewed risk aversion on the back IMF downgrading global economic outlook and news that the UK debt management office revised its 2009/10 gilt issuance total up to GBP220 billion from previously estimated GBP180 billion, has produced a sell off of approximately 250 pips for the Pound.GBP/USD has dropped from 1.4660 levels before the IF press release, to reach 1.4400, the lowest level since Apr 1 after news of the gilts issuance revision, to pick

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