The Sterling continues to languish against the USD. There were no major economic reports on Monday and the GBP essentially mirrored the declines of the EUR. Today the Revised GDP figures will be released from the U.K. and a gain of 0.3% is forecasted. Also the new coalition government will have their legislative agenda presented today. Thus, even though the GBP has certainly been in the shadow of a EUR centric storm, today’s data and news generated from the U.K. could be enough to create its own impetus. If the GDP provides a negative surprise this could spur on the cautious sentiment which already exists regarding the Sterling because of doubts that persists about the U.K.’s growth prospects. Traders may find more volatility today in the GBP.
Written by bforex.com