Given the recent performance of GBP/USD the forex markets seem to be veering towards the US raising interest rates first, but there's still a chance that the Bank of England could pip the US Federal Reserve to the post. If the UK does go first, or is seen to do so, it would suggest that GBP has been oversold versus the USD and there are reasons to believe it still could. This month the US Federal Reserve is set to end quantitative easing in a sign that the US economy and financial system have recovered. The Bank of England made its last purchase under its QE programme in July 2012. Since then the UK economy has ... (full story)