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EUR Pullback Offers Long Entries- GBP Rebounds on Rate Expectations
The British pound is the top performer against a weaker greenback at the close of European trade with an advance of 0.31% on the session. Although the Bank of England lowered its forecast for growth and inflation, remarks made by central bank Governor Mervyn King offered some support to the sterling after he cited that further rate cuts would be ‘counter-productive.’ The comments suggest that the Monetary Policy Committee may continue to endorse a wait-and-see approach as European policymakers increase efforts to address the deepening crisis that has gripped the region for nearly three years. The GBPUSD has ... (full story)
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