The Sterling (GBP) fell in the US session but at a slower pace than the Euro which pushed EUR/GBP to fresh lows near 08300. The outlook on the cross is still bearish and threatens to slip back further towards 0.8000. EUR/GBP has spent most of the past few decades below 0.8000. The MPC minutes were 0-9-0 as expected but they did discuss the potential for more QE next year. Looking ahead, Q3 GDP forecast at 0.5%.
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