GBP Trading Outlook (09-03-2011)
The Sterling (GBP) was soft all day as the market waited for the BOE rate announcement on Thursday with plenty of commentary from analysts on the speed of rate hikes this year. Given the hawkish ECB last week more talk exists that the MPC may have to raise rates sooner than later. Overall the GBP/USD traded with a low of 1.6123 and a high of 1.6211 before closing the day at 1.6165 in the New York session. Looking ahead, January Trade Balance forecast at -8.5bn vs. -9.25bn previously.
Back to GBP Trading Outlook Archive
