Ok guys so here is the news which can go in favour of GBPUSD pair that Dubai World has been injected with $10 million by Abu Dhabi and UAE government. As we know major banks in UK had been involved with in financing to Dubai World project, and when this news broke on Nov 25 since then we have seen a fall in equity markets around the world and to my concern fall in GBP.
All I can say that this is a so far good news for the asian markets and may give a reason to a rise in banking sector in FTSE today, what I am expecting for GBPUSD pair to rise in European session, at moment which is struglling to stand on its broken legs.
A news to keep an eye on will be UK CPI (YoY) which will be deciding factor later in overlapping european and US session.
What is more worse from my point of view is all these bailing activities going on this period and who know pumping more money to bail out Dubai World may be a start of a new real estate bubble in Asia.
Wait and watch...
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