GBP Trading Outlook (10-05-2012)
The Sterling (GBP) the GBP/USD fell through 1.6100 in Europe but rebounded at the first sign of stabilization with the buyers still in control given the Euro situation. The EUR/GBP nearly broke 0.8000 at the height of Greek and Spanish banking concerns but so far the level has held intact. Looking ahead, March Industrial Output forecast at -0.3% vs. 0.4% previously. Also ahead, Bank of England Rate announcement forecast unchanged at 0.5%.
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