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Forex pairs in this Article » GBP/USD (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the IMF are due to report an upgrade in its outlook for the UK economy.

Key Quotes

"The IMF are scheduled to release their latest World Economic Outlook update today in which it is expected to reveal an upgrade to the global growth outlook. It has been reported that the IMF will upgrade the outlook for the UK economy by the largest amount amongst the advanced economies.”

“Real GDP growth in the UK for 2014 is expected to be revised upwards to 2.4% from their October forecast of 1.9%. The IMF’s updated projections still appear overly conservative with economic growth in the UK likely to prompt further IMF upgrades ahead."

"The relative outperformance of the UK economy compared to the euro-zone should continue in the year ahead as credit conditions are easing more materially in the UK. It should continue to lead to a further strengthening of the pound against the euro easing modest pound undervaluation."
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