The Sterling (GBP) struggled in the risk off environment falling below 1.5950 in the European session before returning to the 1.6000 level by the end of the US session. The BOE met and held rates at 0.5% and kept their asset purchase program at 375bn as widely forecast. Looking ahead, German October CPI forecast at 0% m/m. Also UK September Trade Balance forecast at -8.9bn vs. -9.84bn previously.
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