On Monday, while the British economy lacks fundamentals, the U.S. will release empire manufacturing for October at 12:30 GMT, followed by industrial production and capacity utilization for September at 13:15 GMT.
The latest data from the U.S. has been showing improvement, especially the non-farm payrolls report for the month of September, yet the data is expected not have much impact on the pair’s movements which will probably follow the general sentiment in the market.
Still, the main focus remains on the euro area to see the latest developments of the European debt woes to see the European leaders’ ability to shore up their economies and banks.
In the coming period, if European leaders to launch strong measures that convince investors that they are able to contain the debt dilemma, the pair is predicted to continue its rise and the opposite is true.
Also, the latest expansion in the Asset Purchase Facility by the BoE is predicted to cause the pound to appreciate further due to its oversupply in markets.
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