STERLING SUFFERS HEAVY LOSSES ON WEAK HOUSING DATA

Interest rate decisions from the European Central Bank and the Bank of England headline the economic calendar. While any significant changes in the key elements of monetary policy are unlikely in both cases, the outcomes may still prove to stoke significant volatility around currency markets.
The BOE is expected to deliver the first policy announcement since the government unveiled an ambitious emergency budget that promised to slash the deficit by 6.3 percent of GDP by 2014-15. The central bank’

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