Monexnews-Sterling managed to rebound from the lowest level against the Greenback 2½ years as investors started to consider if a sharp decline recently has been far too much. That view is supported by some analysts who argue that most investors will try to take advantage of the downturn to take advantage, especially considering the lack of data in the United Kingdom throughout the rest of this week.
However, the condition of the domestic economy remained fragile in condition susceptible toward Sterling budget announcement on March 20, United Kingdom.
"With so many short positions in Sterling, then it is natural if it happens then the short squeeze. Although it is still potentially propping up Sterling until the eve of the budget speech on March 20, later on, the increase would not be significant as possible, "said Saeed Amen, analyst with Nomura currency. Amen to predict if Sterling will lose 2%-3% against the U.s. Dollar in the next few weeks. (vid)
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