Cable lost a little ground during Asian trade, presently down at 1.5165 from a North American close Friday up around 1.5195. EUR/GBP is steady around .9060.
Given latest developments sterling is showing some resilience. Latest weekend opinion polls continue to suggest at hung parliament being the most likely outcome of the general election, while UK rightmove house price data for March didn’t make very palatable reading. The 0.1% m/m rise was the lowest ever recorded in March and backs up recent data suggesting the UK housing market could be in for a tough time as the year progresses.
Elsewhere Moodys rating agency has come out warning on Uk’s AAA rating.
Will be interesting to see whether this resilience lasts as European trading gets underway.
