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Weak Dollar Ends Three Day Sell-off in GBP/USD
Tuesday, 10 April 2007 21:27:41 GMT
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Previous articles
Previous Articles
Oct 10 -
British Pound Could Bounce, but Long-Term Forecast to the Downside
Oct 10 -
British Pound Consolidates Massive Losses - Recovery in Store?
Oct 09 -
British Pound Drops to Nearly 3-Year Low - Buying Opportunity?
Oct 08 -
British Pound Tumbles As BOE Slashes Rates, UK Announces £50 Billion Bailout
Oct 03 -
British Pound/US Dollar Exchange Rate Forecast
Oct 06 -
Euro, British Pound Plummet On European Financial Crisis Concerns, Intervention On the Way?
Oct 03 -
British Pound Under Pressure As Market Expects A BoE Rate Cut
Oct 01 -
British Pound Plummets as UK Manufacturing Sector Contracts, Services Growth Stagnates
Oct 01 -
Forex Seasonality in the British Pound
Sep 29 -
British Pound Plunges 300 Points on Second UK Bank Nationalization
Sep 26 -
British Pound May Revive Its Decline As Credit Erodes BoE Forecasts
Sep 25 -
British Pound Tumbles Despite Hawkish Commentary And Rebound In Risk Appetite
Sep 24 -
British Pound Holds Steady Despite Weak Sales And Talk Of An Impending Recession
Sep 23 -
British Pound Hits Resistance at 1.86 - Additional Declines In Store?
Sep 22 -
British Pound Rallies More Than 300 Points Despite Heavy Downside Risks for UK Economy
Sep 19 -
Empty Calendar Leaves British Pound At The Mercy Of Dollar Flows
Sep 18 -
British Pound: Why the Jump in UK Retail Sales Was Deceiving
Sep 17 -
British Pound: Banking Consolidations Not Contained To the US, UK Retail Sales Likely to Drop
Sep 16 -
British Pound Unfazed By Surge in UK CPI, BOE Minutes To Determine Next Move
Sep 15 -
British Pound Awaits Release of UK CPI on Tuesday
Written by Kathy Lien, Chief Strategist
Like the Euro, broad dollar weakness put an end to the three day long sell-off in the GBP/USD. There was no data released overnight, but we have a number of UK event risks tomorrow including BRC retail sales and leading indicators. Consumer spending is expected to rebound in the month of March along with leading indicators. Even though recent economic data has not been compelling enough to prompt the Bank of England to lift interest rates at its most recent meeting, it has been good enough to convince the market to price in 2 more interest rate hikes this year.
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