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Breaking news

British Pound surges after UK exit poll shows Conservatives expected to win 368 seats out of 650

Easing U.K. Inflation Opens Door for Additional QE from BoE

Easing U.K. Inflation Opens Door for Additional QE from BoE

2010-03-23 12:12:00
John Rivera, Currency Analyst
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FX3.23

Fundamental Headlines

• Greece Urges Support Mechanism – Wall Street Journal
• Ford on Course to Sell Volvo to Geely – Wall Street Journal
• Beijing seeks to limit Google fallout - Financial Times
• Stocks Advance as Bank Earnings Beat Analyst Estimates; Dollar Strengthens - Bloomberg
• Greek Crisis May Provoke Trichet-Bernanke Split That Extends Euro's Slide - Bloomberg



GBP/USD
  U.K. consumer prices slowed more than expected to 3.0% from 3.5%, with core prices slipping to 2.9% from 3.1%. A 2.3% drop in fuel & light costs led the deceleration, offsetting gains in clothing & footwear of 5.2%. Household services and alcohol added to the lower rate of inflation, but a look at the breakdown reveals increases in housing, tobacco, and food. Price growth is still evident and with inflation at the BoE’s 3.0% threshold, it will remain a concern. However, the central bank has forecasted that prices will in time return to their 2.0% target, and February’s decline adds weight to their argument, which opens the door for additional QE. To discuss this and other topics, please visit the GBP/USD forum.
 

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