GBP Trading Outlook (08-11-2012)
The Sterling (GBP) held up well finding support under 1.6000 and via EUR/GBP selling which is down below 0.8000 now. The upcoming BOE meeting where rates are forecast to be held at 0.5% also have a chance to increase UK Asset Purchase Program. The chance of more QE is put at 40% so there will be volatility after the announcement one way or another. Looking ahead, ECB Rate Meeting forecast to hold at 1.0% with Press Conference after. BOE Rate meeting with forecast to hold at 0.5% and Asset Purchases held at 375bn.
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