Archived IMT (2010.02.25)
GBP DAMAGED ACROSS THE BOARD on comments from BoE Adam Posen reiterating Kings remarks about keeping the door open for renewed quantitative easing. Thursdays speech from King may just as well as reiterate these points once again, but traders must be aware of the revised UK Q2 GDP figures on Friday. Also weighing on cable is the latest Telegraph article reporting UBS $1.05 target. GBPUSD vulnerable to $1.5320 target, followed by $1.5240. USDCAD eyes 1.0590.
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