GBP Trading Outlook (25-10-2012)

The Sterling (GBP) GBP/USD reclaimed 1.6000 on the positive EU rumors and Chinese PMI news. The main drag recently has been speculation the BOE will increase its own QE program to help stimulate a faltering recovery but the Governor has suggested this is still undecided. GBP/JPY was the standout cross overnight reclaiming the Y128 and targeting the Y130 in the coming sessions. Looking ahead, September Private Loan EU forecast at -0.6% vs. -0.6%. Q3 UK GDP forecast at 0.6% vs. -0.4% previously.

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