GBP Trading Outlook (13-06-2012)
The Sterling (GBP) weak economic data delayed the GBP/USD rally in Europe but once the market got above 1.5520 we saw quick gains to 1.5580. EUR/GBP is pressing down towards 0.8000 once again and this could be a major level in play in coming days. BOE Member Tucker talked of doing more in the tight credit conditions to help lenders. Looking ahead, May German CPI is forecast at -0.2% vs. -0.2% previously. Also April Industrial Production is forecast at -1% vs. -0.3% previously.
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