The Jury Is Still Out On Gold however A Verdict Is Nearing
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The Sterling (GBP) was able to regain ground against the Euro but was under pressure against the resurgent Dollar. Cable found support at 1.6360 after first testing 1.6470. The Bank of England held at 0.5% as widely forecast. Overall the GBP/USD traded with a low of 1.6356 and a high of 1.6468 before closing the day at 1.6360 in the New York session. Looking ahead, April Industrial Output forecast at 0.1% vs. 0.3% previously.
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