The pound is generally flat this morning against both EUR and USD. There is a good amount of speculation about whether or not Ben Bernanke will indicate that the Fed will enact further quantitative easing measures when he speaks on Friday at the central bankers conference, taking place in Jackson Hole, Wyoming. Due to this speculation, most traders are in with limited activity this week as most major crosses are confined to very narrow ranges. Even better than expected CBI Trends data released yesterday barely had any impact on sterling as fragile economic growth in the UK is weighing on the British currency. And while possible further QE will weigh on the dollar, the EUR is limited by ongoing sovereign debt and bank sector concerns in the Eurozone. With a bare economic calendar this morning in the UK, expect the pound to remain in recent ranges.
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