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Downgrade of BoE growth forecast sees GBP/USD open lower

15/11/2012 | OzForex

United States Dollar: The pound came under selling pressure yesterday after the release of the Bank of England Inflation Report. The central banks'' growth forecast was downgraded for next year to approximately 1% whilst Mervyn King also said that output was likely to remain ...
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BOE Inflation Report the focus this morning following upside surprise to CPI released yesterday

14/11/2012 | OzForex

United States Dollar: GBP/USD broke back higher through 1.5900 up to 1.5915 following the higher than expected inflation reading yesterday. UK CPI rose 2.7% from a year earlier in October, up from 2.2% in September and above forecasts for 2.3%. This came on the eve of the Bank ...
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Disagreement over Greece weighs on the euro as Euro Group meetings continue

13/11/2012 | OzForex

United States Dollar: GBP/USD has steadily lost ground over the last 24 hours. After briefly pushing through 1.5900 yesterday morning it ended up falling to a low of 1.5859 overnight. In general though it was a slow day yesterday, made slower by the fact it was a public holiday ...
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BOE to hand over gilt interest payments to pay down UK national debt

12/11/2012 | OzForex

United States Dollar: The pound has fallen vs. the dollar since Friday following news that the Bank of England will hand over gilt interest payments amassed from its QE program in order to pay down the national debt by £35 billion over the next 18 months. This in turn ...
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GBP/USD trades either side of 1.6000 as BOE and ECB fail to surprise

09/11/2012 | OzForex

United States Dollar: Cable fell to a low of 1.5930 yesterday as risk continued to look heavy. Come midday though GBP/USD bounced modestly following the Bank of England’s announcement that it would be leaving interest rates on hold at 0.5% and its QE program unchanged at ...
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Focus turns to central bank decisions in UK and Europe as USD strengthens

08/11/2012 | OzForex

United States Dollar: GBP/USD traded to a high of 1.6043 yesterday as the Obama victory inspired risk rally saw the USD weaken across the board. It failed to sustain this move however and fell back below the 1.6000 figure come the afternoon. Weaker data from Europe and Greek ...
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USD initially weakens as Obama victory leads to risk rally

07/11/2012 | OzForex

United States Dollar: The initial reaction to Obama’s victory in the US presidential elections was to sell the USD. Risk has enjoyed a rally in Asia with most indices finishing up on the day, all except for the Nikkei. GBP/USD is up slightly as a result climbing from ...
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US election jitters likely to dominate proceedings as the result remains in the balance

06/11/2012 | OzForex

United States Dollar: GBP/USD went on to fall below 1.6000 yesterday with the USD still posting gains following the strong jobs report on Friday. It was further undermined by weaker than expected UK services PMI data which printed at 50.6 vs. forecasts for 52.0. Cable fell to ...
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USD up on stronger US jobs report on Friday but caution remains ahead of busy week

05/11/2012 | OzForex

United States Dollar: UK Construction PMI was released on Friday morning and printed slightly stronger than expected at 50.9 vs. 49.1. It did not move GBP/USD though which continued to trade a range of 1.6080/1.6110. US Non-Farm Payrolls was the most anticipated release of the ...
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Risk on to end the week but the euro continues to lose ground

02/11/2012 | OzForex

United States Dollar: Improved risk sentiment and stronger equities lead GBP/USD higher yesterday and the pair traded to a high of 1.6176. This was driven in part by the better than expected US ADP employment change numbers which indicates that today’s US Non-Farm Payrolls ...
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