GBP Trading Outlook (18-08-2011)

The Sterling (GBP) was the most volatile currency in the market after spiking lower on the BOE Minutes which showed a change to 9-0 with the 2 members calling for rate hikes in recent months changing their decisions to a hold. The market bought aggressively on the dip however and surged to week highs above 1.6500. Looking ahead, July Retail Sales forecast at 0.3% vs. 0.7% previously.

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