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GBP struggles following poor data, while EUR makes gains

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 12, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    It was something of a poorer week for the pound as we saw it end the week down against the euro – closing at its weakest weekly level since February this year. There was also poor services PMI data seen at 53.3 (below the 56.4 expected at the start of the week. The BoE were also seen to hold the interest rate at 0.5% - but, while Mark Carney still thinks the UK is underperforming in terms of inflation, the UK’s interest rate situation is not being seen as dependant on what happens in the US. A

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