GBP/USD - 1.6785 .. Although cable has fallen to as low as 1.6744 this morning after y'day's surprising BoE announcement of the expansion of quantitative easing program (the BoE also painted a bearish outlook in U.K. economy), short-covering ahead of the key U.S. jobs data lifted price fm there n sterling traded sideways afterwards. At the moment, bids (some are for profit-taking purposes) are placed in the region of 1.6740-1.6760 with mixture of bids n stops seen around 1.6700. Offers (incl. cross-related orders) are building up fm 1.6800 up to 1.6840 n 1.6880/90 with stops reported abv 1.6900.
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