Sterling forecast on the 22/04/2013:
The Pound was de-railed on Friday as investors reacted negatively to Fitch's decision to downgrade the UK's sovereign credit rating to AA+. Sterling had initially rallied as German Producer Prices fell from 1.2% to 0.4% in March, but fears over the possibility of further QE - stoked by comments from BoE policymaker Martin Weale - combined with Fitch's downward revision, ensured that GBP/EUR ended the week on the slide.
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