GBP Trading Outlook (26-01-2012)
The Sterling (GBP) the GBP/USD was able to reverse some losses in Europe to gain against the USD to fresh month highs above 1.5650. The EUR/GBP however continued to rally as the Euro recovery outpaced the Pound. Some are concerned the BOE could expand the Asset purchase program in the UK which is similar to the US QE. The Q4 GBP drop to -0.2% vs. -0.1% forecast added to this speculation. Looking ahead, January CBI Distributive Trade forecast at -6 vs. 9 previously.
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