News Headline Summary

Heading into today's UK GDP release, GBP/USD pared overnight gains and is trading little changed

Update details:

Some factors behind the weakness:
- Downbeat comments from PIMCO's Amey, who said that there is a good chance UK will lose AAA rating and that the UK will probably do more QE. Of note, earlier in the month, Moody's to review UK's AAA rating in early 2013 after it digests the Autumn Statement from the Chancellor in December.
- Advanced GDP report came in much better than expected, boosted by special factors, which many analysts believe will result in a downward revision.

Print 09:02, 27 Nov 2012 - Market Analysis - Source: RANsquawk