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GBP/USD Comments and Analysis

|Includes: CurrencyShares Australian Dollar Trust ETF (FXA), FXB, FXC, FXE, FXF, FXY, UDN

The pound continues it's range bound sideways movement trading around the 1.6500 level.  In the US, the University of Michigan consumer sentiment came in a bearish surprise, and is given as a reason that the Dow is down over 100 points. The pound has been responsive to equities, and if the US stocks are a real tank shot today, there may be some late selling of the pound in anticipation of a lower Monday opening.

The trade today seems to be lackluster.  Combine this with the pending weekend, and it is hard to come up with a trade today.  Yesterday the open interest at the CME futures was down 2,155 contracts, so traders are seeking the sidelines in this pair.