GBP Trading Outlook (21-02-2013)
The Sterling (GBP) fell sharply for most of the day down over 200 pips and hitting 1.5200 in the Asian session so far. The market was already bearish on the Pound and the change in risk sentiment has added to the selloff. GBP/JPY and GBP/AUD and EUR/GBP are all threatening new lows against their respective currencies. UK Unemployment Rate increased to 7.8% vs. 7.7% previously. Looking ahead, France Manufacturing Survey forecast at 44.5 vs. 43.6. German Manufacturing forecast at 55.5 vs. 55.7 previously. February EU manufacturing forecast at 49 vs. 48.6.
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