GBP – Plenty Of Data, But EUR Centric

The Sterling maintained an air of stability on Wednesday a day after declining against the USD. Claimant Count numbers were slightly better than anticipated, but the economic outlook for the U.K. remains cloudy and its housing market is still showing signs of duress like its counterpart in the States. Plenty of data will come today including in the Preliminary Mortgage Approvals, Retail Sales, and Public Sector Net Borrowing. This set of reports will certainly be quite a bit of information for investors to swallow. The problem for the Sterling and its trading is that it is directly under the weight of a EUR centric storm for the moment that is being generated as questions mount regarding debt. The GBP has lost some ground to the USD in the past week and traders will have to be aware of the complex web that is confronting the GBP today.

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