Forex Video | New York Session Review | November 12, 2008

The British pound succumbed to a wave of selling following the release of the Bank of England's quarterly inflation report, in which the central bank forecast a dire outlook for the U.K. economy next year. One of multiple opportunities to short the GBP/USD materialized during the early hours of today's New York session. A 110-pip short trade before the open of US equity markets was only the beginning, as the pound ultimately saw fresh 6-year lows before the day was done.

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