GBP Trading Outlook (14-12-2011)

The Sterling (GBP) fell but was better supported than the Euro with traders selling EUR/GBP down to 0.8400. The Major broke 1.5500 but the losses were contained. November CPI came in at forecasts 4.8%y/y down slightly from 5.0% previously. Looking ahead, November Claimant Count forecast at 14.9k vs. 5.3k previously. The Unemployment Rate is forecast at 8.4% vs. 8.3% previously.

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