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Forex Flash: Bank of England expected to stay on hold - UBS

FXstreet.com (Córdoba) - Coincidently with consensus, the UBS team is looking for no change of policy rate, as well as the asset purchase program at Thursday's Bank of England meeting.

"Still, after the recent action of the ECB and Australia, even non-action of the BoE could lead to a small Sterling rally", UBS comments. "More important, in our view, will be next week's Inflation Report, in which the bank outlines its current views on the economy and in two weeks the minutes of the policy meeting to see if the voting pattern changed. We stay overweight GBP".

Forex: USD/CAD extends recovery above 1.0030

After declining 40 pips from 1.0055 to reach the lowest level since February 15th at 1.0015, the USD/CAD has bounced at this level with the pair trading back at 1.0335.
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Wall Street closes higher on upbeat sentiment

The US stocks market closed on Wednesday as investors' confidence was fueled by upbeat industrial production data in Germany and the jump in the MBA mortgages. The Dow closed at record high and the S&P 500 ended at record high for fifth straight session.
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