FXstreet.com (Jakarta) - The Sterling (GBP) came under pressure at the start of Europe as attention turned to possible QE expansion by the BoE. The selling was short lived and the market pushed higher once again as US stocks rallied hard. October Rightmove HPI at 2.8% vs. 0.6% previously helped to improve sentiment.
Overall the GBP/USD traded with a low of 1.6241 and a high of 1.6424 before closing the day at 1.6370 in the New York session, said Easy Forex Team. Looking ahead, September Public Sector Net Borrowing forecast at 15.3bn vs. 16.12bn previously.