September 4 2013

In the trading room today: UK Data is Solid, but Can the GBP Rally? Following another solid economic report from the United Kingdom and ahead of the Bank of England monetary policy announcement, we focus on the GBP and examine the factors that could send the pound sterling on its way to revisit recent highs, we analyze the strengthening of the GBP vs USD, we note the bounce higher in the EUR/USD currency pair, we keep an eye on the rally in the USD/JPY pair, we highlight the market’s reaction to the U.K. Services PMI, the Euro-zone GDP and Composite PMI, we discuss new forecasts from Deutsche Bank and UBS, and prepare for the trading session ahead.