Sterling set to outperform after breaking key support

Sterling was the standout winner this week, trading to a three -year high against the euro after breaking below a key support at 0.8200.

21st April, 2012
Sterling set to outperform after breaking key support
Vincent Killeen. Senior Manager, Institutional Sales Team, Bank of Ireland Global Markets.

Sterling was the standout winner this week, trading to a three-year high against the euro after breaking below a key support at 0.8200. The catalyst for sterling's strong performance came from the April Bank of England minutes which were less dovish than expected. The Bank's minutes indicated a decreasing chance of further stimulus measures being applied in May when the current round of asset purchases come to an end.

Significantly, MPC member Adam Posen changed his...

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