GBP Trading Outlook (18-11-2010)

The Sterling (GBP) managed small gains but was also very subdued rallying on slightly better than expected data. UK Claimant Count change was -3.7k vs. 5.1k forecast. BOE/MPC Minutes showed another 1-7-1 split with the Member Sentence wanting a rate hike and Posen wanting more stimulus. Overall the GBP/USD traded with a low of 1.5852 and a high of 1.5951 before closing the day at 1.5920 in the New York session. Looking ahead, October retail Sales forecast at 0.4% vs. -0.2%.

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