News Headline Summary

GBP currency continues to underperform, as market participants react to weekend press reports which suggested that the BoE will likely cut its growth forecasts in this week’s quarterly inflation report...

Update details:

- The Telegraph reported that The Bank of England will cut its growth forecasts in this week’s quarterly inflation report dousing recent hopes that the UK was heading back to recovery.
- In related news David Smith at The Sunday Times wrote that a renewed surge in oil prices threatens to push inflation even further above the official 2% target this year, and the Bank of England is set to concede this week that it has little chance of hitting that target over the next two years.
- Elsewhere, UK Lloyds Employment Confidence (Jan) M/M -45 (Prev. -42).

Print 07:44, 11 Feb 2013 - FX Flows - Source: RANsquawk