The Sterling (GBP) was able to hold up better than most with the EUR/GBP cross breaking below the key 0.8500 level. The GBP/USD held at 1.5550 and bounced back to close at 1.5600. The outlook is linked with the Euro and if the crisis deepens the GBP/USD will follow the single currency lower. Looking ahead, November RPI forecast at 0.2% vs. 0.0% previously and CPI is seen at 4.8% vs. 5.0% y/y.
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