By Rob Bastin

GBP/USD exchange rates were down during the mornings trading as Sterling saw losses against all major currencies as the market opened. The pound was able to claw back some these early losses during the afternoon as US New Home Sales figures were significantly worse than expected. Anaylysts had forecast an improvement from -7.6% up to 3.8% but actual figures saw a further drop to -11.2%. cable finished the day 0.18% down.