Sterling Strength Fails to Lift a Struggling Euro

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The biggest news from today’s European session came out of England, where the BoE’s inflation report cut inflation and growth forecasts and Governor King said the bank will use asset purchases as its central stimulus tool because interest rate cuts are counterproductive. King’s comments sent the British Pound soaring 90 points against the US Dollar to 15650.

However, Sterling’s jubilation did not spill over to Euro trading, which is down 0.35% against the US Dollar in today’s trading. European stocks are also trading lower in today’s session.

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