Pound’s Direction to Come from BoE Meeting, Credit Report Will Provide Insight
October 27th, 2009 by
The British Pound was sunk last week by an unexpected 0.4% contraction in U.K. third quarter GDP, as it significantly missed forecasts for 0.2% growth. The ongoing recession increased the chances that the BoE will add to their asset purchase program at their November Policy meeting which saw interest rate expectations grow in influence over the GBP/USD’s price action.
Posted in Foreign Exchange |