Sterling traded in a calm range on Tuesday without any major economic data coming forth. Today will remain quiet from the U.K., but this will change tomorrow when the BoE will release their monthly monetary policy decision. The Bank of England will certainly not alter their interest rate platform, but investors will be on the lookout for a statement if one is published. Also making the day interesting tomorrow will be the Manufacturing Production figures which are anticipated to show a gain, this after a decline the previous month. The U.K. economy mirrors that of its counterparts. Many questions remain stark and the prospects for a recovery have not shown much promise. The GBP has enjoyed a good week of trading and has shown stability, but shadows still exist.
Written by bforex.com
