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GBP Trading Outlook (21-10-2010)

The Sterling (GBP) also pushed higher on Wednesday on a return to risk, although the upside move was limited as the BoE minutes hinted that policy makers were leaning towards further QE. The UK Government unveiled significant austerity measures as well, by raising the retirement age and cutting 490 K public sector jobs. The GBP traded with a low of 1.5655 a high of 1.5878 before closing the day at 1.5831. UK Retail Sales set for release on Thursday.

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