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Darling and U.K. outlook

Posted on April 22, 2009 at 11:54 in News, Short-Term Analysis by Valeria Bednarik

Darling is releasing the annual budget, and he is saying that U.K. is facing the most serious turmoil in 60 years, however, expects economy to start growing by the end of this year. They also expect economy to contract by 3.5% this year, and the forecastgrowing for next years, is of 1.25% for 2010 and 3.5% for 2011. Gbp is ticking a bit higher, yet nothing really important for now; pair needs again to move above 1.4680 to continue moving higher. 1.4610 remains the first support for today.

Tags: Gpb/Usd

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