GBP collapsing on King comments
Mervyn King had some extremely bearish comments yesterday.
MAJOR HEADLINES
• BoE's King-UK economy likely entering recession
• British economy to shrink 0.9 pct in '09-NIESR think tank
• Australia Q3 CPI +5.0 PCT YR/YR vs +4.8 PCT expected
• NZ puts a cap on bank deposit guarantee scheme at NZD1 mln for retail investors
• BOC cuts rates by a less-than-expected 25bp
The GBP/USD bullish trend can be seen here:
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