GBP Trading Outlook (14-03-2012)
The Sterling (GBP) the 1.5650 level held on GBP/USD and this helped the crosses gain against the Euro and the AUD. The GBP/AUD is starting to reverse after hitting all-time lows at 1.4500 with the market testing 1.5000 overnight. Other news for the Pound was the negative watch of UK’s AAA rating by Fitch with the rating agency putting their chance of a downgrade at over 50% in the next 2 years. Looking ahead, Swiss Interest Rate decision forecast to remain at 0.25% with focus on the 1.2000 EUR/CHF floor.
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