No respite for sterling, cable down at 1.6365, EUR/GBP up at .8680.
Couple of articles being noted. The Financial Times reports more than half of UK businesses do not see any improvement in their prospects for at least another 12 months.
While about a quarter expect economic recovery by the Q-3 2010, a fifth believe they are on course for a cash crisis this year, according to a new survey of board level managers and financial controllers of large UK companies.
Elsewhere in The Telegraph they highlight the fact Barclays and RBS will need billions more in capital if they are to continue growing their investment banks. Somewhat belated reaction to the news which came out yesterday, if it is infact weighing on sterling.
Parlous state of UK public finances is also weighing. There will also be a little caution ahead of Bank of England minutes and CBI industrial trends data. You can also add to the list of negative factors the Telegraph article touting a continued slump in UK house prices.
From present 1.6365, technical supports now at 1.6355/60 and then 1.6310/20.