Published by Mark Smith-HalvorsenSterling rose versus the US dollar in foreign exchange trading yesterday (September 20th), moving higher from the previous day's $1.5632 to settle at $1.5714.Reuters reports the British currency may be affected by today's minutes from the Bank of England Monetary Policy Committee (MPC) Meeting held earlier this month, which should indicate whether quantitative easing (QE) is a consideration.Meanwhile, the pound remained little changed against the euro and was at 87.15 pence as concerns continued about the strength of the eurozone in light of Standard & Poor's decision to cut Italy's credit rating.Commenting on the outlook for forex trading, Barclays Capital currency analyst Raghav Subbarao said: "If the MPC resorts to more QE, sterling will weaken. There is a difference when the Fed opted for QE1 as investors still preferred to hold the dollar for liquidity."Earlier this week, Chris Weston, institutional trader at IG Markets in Melbourne, told Bloomberg that the euro is likely to remain "under pressure" in the near future.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site