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Thursday, June 28, 2007

Fundamental analysis (GBP) by Admin

On Wednesday, Sterling got pressure against the USD after break the resistance at $2 come up with the expectation of higher interest rate next week.
Sterling down 0.2% to $1.9950, economists expect the interest rate will be 5.75%.
John Gieve, Deputy Governor of Bank of England stated on tuesday, he gave vote to rise the interest rate in order to hold the demand of credit.
Towards to Bank of England's decision next week, market will focus on this meeting, the result could be use to measure the effect of the hikes interest rate since August, 2006.

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