Monday July 13, 2009 - 12:27:17 GMT
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Tamley Global Markets - www.tamley.com
Sterling is Doomed by Inflation
- FX Market focus on US Q2 reporting season
- United Kingdom economy deteriorates
Forex markets have been stable through the Asian session. Markets have become increasingly cautious as the US Q2 reporting season is approaching. This probably will be a dominant subject in the week ahead, and markets will be also looking into top tier reports, especially from US this week for a direction.
The Sterling has suffered major damages as the UK economy will likely to hit its largest contraction on record. The UK inflation has been relatively high but Tuesdayâ€™s data should show an easing in the CPI rate back down below the Bank of England' 2% target level. Meanwhile, figures on Wednesday are expected to show a further deterioration in UK labor market conditions.
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