Ecb Talk Hits Forex Bid to Push Sterling Past $1.90; Analysts Says Correction Is in Store After Day of Frenzied Trade

Summary

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CURRENCY speculators yesterday threw large sums of money at trying to drive sterling through $1.90, but failed narrowly amid rumours of European Central Bank intervention to halt the euro's rise against the dollar.

The pound got off to a good start - hitting 11-year highs against the US greenback for the fifth day in a row.

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Ecb Talk Hits Forex Bid to Push Sterling Past $1.90; Analysts Says Correction Is in Store After Day of Frenzied Trade

It gained fresh momentum in the wake of news in the early afternoon of a wider-than-expected US December trade deficit of $42.5bn. Sterling rose tantalisingly close to the $1.90...

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