Euro Struggles as Spain Scales Back on Austerity, Pound Creeps Higher | DailyFX:
"British Pound: U.K. Jobless Claims Top Expectations, BoE Votes 9-0
The British Pound climbed to 1.5699 as jobless claims in the U.K. unexpectedly weakened 5.9K in July, while the Bank of England Minutes showed the Monetary Policy Committee voting unanimously to maintain its current policy in August. Indeed, some members saw a ‘good case’ for additional quantitative easing as the central bank lowered its outlook for growth and inflation, but it seems as the MPC will continue to endorse a wait-and-see approach over the coming months as the Funding for Lending scheme is expected to boost economic activity in the U.K. Nevertheless, it seems as though the GBPUSD will maintain the range-bound price action carried over from June as the pair struggles to put in a close above the 200-Day SMA (1.5716), but we will be keeping a close eye on the short-term moving averages (10, 20 and 50 Day) as they appear to be forming a positive slope."
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