The US dollar is trading heavily after yesterday's mini-reversal, with a stronger than expected UK GDP report allowing sterling to lead the charge. The UK reported a 1% rise in Q3 GDP over Q4. The consensus was for 0.6%-0.7% expansion after three quarters of contraction. The news, coupled with recent comments from BOE's King, have dampened expectations for a continuation of the gilt purchase program when the current operation is complete next month. The gains in sterling have been sufficient to take out the downtrend line drawn off the year's high on the first day of autumn, Sept 28 and Oct 17. It comes in near ... (full story)