The minutes of the Bank of Englands' latest monetary policy meeting indicate that Adam Posen had dropped his call for further easing measures. This outcome should be highly supportive for the Pound in today’s trading session. Additionally, the domestic labour market scenario showed an improvement with a drop in the unemployment rate. Multiple factors contributed to risk positive markets yesterday, including robust Spanish short term bond auction and an unexpected improvement in German and Eurozone economic confidence indices. The IMF also quashed fears of a global slowdown following an upward revision to its global economic growth forecast.
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