International Forex Inforamtion

Sterling is leading the breakout in forex markets today with GBP/USD taking out this year's high of 1.6617 and soars to as high as 1.6747 so far while strength of the pound is also clearly seen against Euro and Yen. While risk appetite is cited as the main driving force somewhere on the market, we're a bit skeptical as the rebound is Aussie is not as clear as in Sterling. On the other hand, while Crude oil breaches 73 level briefly, there is no comparable strength seen in Canadian dollar. Hence, while Sterling's strength is clear, as seen with recent resilience, some more evidence is needed to confirm broad based downside breakout of dollar.