24 hours previously, the UK GDP data for the fourth quarter and the latest government borrowing data will be released. Weaker than expected growth and worse than expected borrowing data would be a setback for Sterling, but the main action should be on Wednesday. Bank Governor King is due to speak on Wednesday and if the bank’s thinking has changed since the January meeting, then he is likely to signal this in the speech.As far as the US is concerned, the Federal Reserve will announce its latest interest rate decision on Wednesday and most attention will be on the statement given that rates are likely to be left on hold.
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