GBP Trading Outlook (04-02-2013)
The Sterling (GBP) it was a tail of two cities on Friday with the GBP/USD clobbered unable to track stocks higher and instead falling on the back of weak economic data. January Manufacturing PMI dropped to 50.8 vs. 51.4 previously. EUR/GBP buying was another source of GBP weakness with the important cross hitting 0.8700 on Friday. Looking ahead, UK January Construction PMI previously at 48.7. Also, December EU PPI forecast at 0.1% vs. -0.2% previously.
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