Sterling Digest: April 2, 2012

NASA PICTURE OF UK
The United Kingdom/Britain/England/UK

Sterling was very mixed bag in Monday trading despite stronger-than-expected manufacturing numbers out of the UK. GBP was able to push higher against the euro and greenback but lost a lot of ground versus the aussie, kiwi, and loonie. Traders are really looking ahead to the Bank of England later this week on Friday. While the BoE is expected to hold on monetary policy, poor economic data released in March has some market participants speculating that the BoE needs to increase QE now rather than later. However, trickle of positive news in the last few days may be enough justification the BoE needs to stay put for now.

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