GBP Trading Outlook (23-12-2010)
The Sterling (GBP) UK Q3 GDP was revised lower to 0.7% vs. 0.8% originally and this allowed the market to push the already weak Pound further down. UK MPC Minutes released from last rate meeting showed the board was split 1-7-1 with one member calling for rate hikes and another for expansion of the Asset purchase program while the rest called for a hold. Overall the GBP/USD traded with a low of 1.5354 and a high of 1.5497 before closing the day at 1.5420 in the New York session.
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