Tue 21 Oct 2014 Sterling investors largely shrugged off the weak - TopicsExpress

Tue 21 Oct 2014 Sterling investors largely shrugged off the weak UK public sector net borrowing data as the Pound showed little reaction against the majors this morning. Market attention has now shifted on to the minutes of the BoE’s latest policy meeting scheduled tomorrow for further direction. Traders are anticipated to scrutinise the minutes to gain an insight into the timing of an interest rate rise in the UK. Across the Atlantic, the only notable macro trigger today is the existing home sales report which is expected to show encouraging sales for September. Meanwhile, in the absence of any important economic data in Europe, the common currency is likely to remain supported against the majors following better than anticipated Chinese GDP data for the third quarter.

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