Archived IMT (2009.10.08)
Bank of England left current quantitative easing program unchanged. GBP rose across the board yesterday after Lloydss second attempt to avoid entry into the Government's asset protection program. Lloyd, which is 43% owned by the govt is proposing a 15bn capital issue to enable it to withdraw entirely from the governments sponsored asset protection scheme. The Financial Services Authority is reviewing the proposal and will decide by end of month. GBPUSD remains capped at the 3-week trend line resistance of 1.61.AUDUSD breaks above the 0.90 after a broadly strong jobs report (increased employment, falling unemp rate). 0.9095 stands as the next resistance, while AUDJPY remains capped at 80. Watch Trichet's press conference and any remarks on the USD 12:30 GMT.
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