GBP Trading Outlook (31-03-2011)
The Sterling (GBP) was able to finally rally on the back of strong data and positive markets. CBI Distributive trades jumped to 15 vs. 6 previously in March. EUR/GBP slipped to 0.8750 but losses was contained and most of the moves were seen on GBP/JPY. Overall the GBP/USD traded with a low of 1.5977 and a high of 1.6086 before closing the day at 1.6080 in the New York session. Looking ahead, March Nationwide HPI forecast at -0.1% vs. 0.3% previously.
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