On Tuesday, Bank of England Governor King and his fellow MPC members will be grilled by the Treasury Select Committee on the bank’s latest inflation report, released in May. The general tone of pessimism will leave Sterling vulnerable to further, although probably measured losses with GBP/USD hitting tough resistance just above 1.60 and targeting the 1.5830 area. Trading will be choppy during the session with the hearings likely to continue for over an hour and selling rallies remains the best strategy The central bank will again leave itself vulnerable to criticism with headline inflation more than twice the ... (full story)