Wednesday, 21 October 2009

Minor Sterling strength following better comments from King and ahead of BOE minutes - strength against USD EUR AUD CAD ZAR CHF SEK

Sterling has started off the day gaining ground against a basket of major currencies following much better than expected comments from BOE governor Mervyn King regarding the U.K's economic position.

We also saw a release from the CBI saying that they believed the economy would grow by 1.3% next year - a slightly better figure than was mentioned by Earnst & Young in a report over the weekend.

Everyone will be eagerly awaiting the release of the BOE minutes this morning at 09:30am and the mention of Quantitative Easing - should it be mentioned that QE has come to an end one would expect major Sterling strength and weakness should it be mentioned that there is more to come.

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Have a great day and thanks for reading!

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