GBP Trading Outlook (23-01-2013)
The Sterling (GBP) while the GBP generally tracked the EUR/USD lower and then back near opening levels during the US session. At the close however we saw some selling on the back of BOE Governor King’s comments that BOE QE is an important tool for helping the UK economy. GBP/JPY has found tentative support at the Y140 level but it is too early to call the correction complete. Looking ahead, January MPC minutes forecast at 9-0 hold vote. Also November Unemployment Rate forecast at 7.8% unchanged from the previously month.
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