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25 May 2013 | 15 Rajab 1434
    Forex News
Sterling slips ahead of BOE minutes, UK data
18/04/2012 08:56:03 AM GMT 

* "Golden cross" poised to be formed in cable charts

* Euro slips vs sterling, seen near recent lows

LONDON, April 18 (Reuters) - Sterling eased against the dollar on Wednesday, with some in the market gearing up for dovish minutes from the Bank of England's latest monetary policy meeting which could revive speculation of more monetary stimulus in coming months.

While all nine members of the Monetary Policy Committee (MPC) are expected to have voted to keep rates on hold, the minutes will be scrutinised for any hint on whether policymakers would consider another round of quantitative easing when the current programme ends next month.

UK jobs data is also due and could highlight the struggles that the economy is facing, given cutbacks in government spending and overall sluggishness in demand from consumers.

"Today's release of the April MPC minutes will provide further indications about the likelihood of another bout of asset purchases in the near term," Valentin Marinov, currency strategist at Citi.

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Source: Reuters
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