GBP Trading Outlook (14-02-2013)
The Sterling (GBP) the GBP/USD was crushed lower by the BOE Governor Kings speech overnight. He commented that the limits of the monetary policy (cutting rates) leaves the door open for further stimulus (QE) in light of inflation. Cable hit 1.5550 throughout his speech and has continued to fall with little bounce to 1.5530 so far in Asia. Looking ahead, Q4 GDP Germany forecast at -0.5% vs. 0.2%. EU GDP forecast at -0.4% vs. -0.1% previously.
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