EUR/USD is little changed from last night’s close ahead of tonight’s FOMC meeting. EUR/USD had traded higher overnight, however, with stronger stock markets reflecting a preference for risk. Sterling has received a tidy boost on this morning’s publication of the minutes of the Sept MPC meeting. The minutes show that all members of the committee were in favour of steady policy. This tempered some of the concerns that had followed the publication of the August MPC minutes. These highlighted that 3 members, including Governor King, had voted for a larger increase in QE than was finally agreed. EUR/GBP temporarily dropped back below GBP0.900 on the release, cable saw highs this morning of 1.6438. Full text »
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