Poundsterlings weakened, waiting for statements from BoE
In currency trading the Asian session today (04-03), seen through British Pound currency weakening against the U.S. Dollar. GBP / USD pair now moves to the range of 1.5080.
Tonight will be released MPC Rate Statement by the BoE (Bank of England). It is estimated that the interest rate BoE’s almost impossible to be increased this time from the level of 0.50%, except governor Mervyn King gave a surprise. Budget assets also estimated the time being there will be no change.
The statement will provide an analysis of what the future will be done by the BoE. Previously King stated that budgetary assets of £ 200 billion is still a chance plus to boost the level of domestic consumption the UK. The next statement in much the same King, then the pound sterling declined. Currently, the technical and fundamentals still support the trend bearish sterling.
Analysis consulting say GBP / USD likely to weaken to as low as 1.5020 if support through the 1.5060 level. Strengthening can occur if the pound sterling through resistance at the 1.5125 level to the 1.5165 level. May be more advisable for investors to not enter a position in advance, because the market has the potential to move sideways if waiting for an important statement like this.
