British Pound Tumbles Lower on BoE Comments, Euro Maintains Channel Formation
Posted 02-10-2010 at 09:36 AM by DailyFX
The British Pound retraced the overnight advance and slipped back below the 1.5700 level as the Bank of England lowered its outlook for growth and inflation, and the exchange rate may maintain the downward trending channel from the November high (1.6879) as the central bank expects price growth to fall back below the 2% target.
Talking Points
• Japanese Yen: Slightly Higher Against Higher-Yielding Counterparts
• Pound: BoE Holds Dovish Outlook, Maintains Option for Further Easing
• Euro: Germany Considers Bailout Options for Greece
• US Dollar: Trade Balance on Tap
Read more: DailyFX - British Pound Tumbles Lower on BoE Comments, Euro Maintains Channel Formation http://www.dailyfx.com/forex/fundame...#ixzz0f8z2jVvZ
Talking Points
• Japanese Yen: Slightly Higher Against Higher-Yielding Counterparts
• Pound: BoE Holds Dovish Outlook, Maintains Option for Further Easing
• Euro: Germany Considers Bailout Options for Greece
• US Dollar: Trade Balance on Tap
Read more: DailyFX - British Pound Tumbles Lower on BoE Comments, Euro Maintains Channel Formation http://www.dailyfx.com/forex/fundame...#ixzz0f8z2jVvZ
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