FXstreet.com (Barcelona) - The Sterling (GBP) tested 1.400 again as reports emerged that the BOE was considering Quantitative Easing as early as this month, said Easy Forex Team.

The rebound from Heavy GBP/JPY buying was capped in Europe as February Construction PMI fell to a record low 27.8. The market is pricing in a 0.5% rate cut.

Overall the GBP/USD traded with a low of 1.3987 and a high of 1.4157 before closing the day at 1.4040 in the New York session.