The pound sterling resists as worse than expected figures for GDP are released, the highest quarterly drop since 1979, retail sales increase.

[RTFX-Trading]

The pound sterling resists as worse than expected figures for GDP are released, the highest quarterly drop since 1979, retail sales increase.

The pound fell against its major rivals following the publication of GDP down 1.90% in Q1 2009. It is the largest quarterly drop in 30 years. With regard to retail sales in March, they were up 0.30% from February and 1.50% in one year.

Personally, I find that the pound sterling is resisting to these figures which I consider to be bad. In addition, the rumor of declining Rating AAA of England does not seem to be taken into account by investors. The pound sterling against the dollar could find support in the 1.4636-1.4582 area.

Nicolas Longchamp
RTFX Ltd
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