Cable, finally managed to reach 1.60 in early trading in London, which is a level which was a kind of barrier to the majors for the past few months. The latest round of growth occurred due to dollar weakness. Indeed, the flow of negative news yesterday, not faded away: the number of applications of unemployed in the employment centers increases the second consecutive month in 5300, reaching 1,473 million applications. Next Wednesday - a big day for the pound, for two reasons. First, we'll see how serious the Open Market Committee considers the quantitative easing, which will be published the last minutes of the meeting at 9.30. Later that same day, the Chancellor will publish the long-awaited review of the budget, which will be indicated, what is the size of cost reductions can be expected within the next few years. If George Osborne will be able to balance the fiscal consolidation in line with the sensitivity of the weak economy, while the pound may temporarily go up.
Translate this page
