GBP Trading Outlook (21-07-2011)
The Sterling (GBP) the GBP was quiet in a tight range with losses against the Yen and Euro the only noticeable movement. The MPC minutes remained the same as the previous month and the outlook is for no action from the central bank for the next few months. Overall the GBP/USD traded with a low of 1.6067 and a high of 1.6176 before closing the day at 1.6150 in the New York session. Looking ahead, June Retail Sales forecast at 0.5% vs. -1.4%.
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