FX

FX open: Sterling weak after BoE opens door to further stimulus

By Francisco Miñana

Date: Thursday 17 May 2012

  • Glossary
  • Basis point (bp): One-hundredth of a percentage point
  • Risk premium: Difference between the yield on a nation's benchmark 10-year bond and the yield on the German equivalent bond
  • Troika: European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF)

Focus is on the Mediterranean countries as the European session gets under way, particularly Greece and Spain while in the foreign exchange markets sterling is under pressure following the Bank of England's quarterly inflation report released on Wednesday.

The main equity benchmark indices have opened with an average...

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