12 Feb 2015
GBP/CHF jumps to 4-week highs on BoE inflation report
FXStreet (Córdoba) - The pound rose across the board after the release of the Quarterly Inflation report in the United Kingdom, reaching fresh highs. GBP/CHF rose from 1.4155 to 1.4251 in a few minutes, reaching the strongest level in almost a month.
The Bank of England upgraded inflation and growth forecasts; downgrading near tear inflation expectations but revised up the medium-term inflation outlook. Current low inflation was attributed to oil and food prices. Carney said that the UK is not experiencing deflation.
Recovery post SNB continues
GBP/CHF is trading at the highest level since January 15, when the SNB abandoned the 1.20 EUR/CHF peg. Today after moving during a week in a range, the pound broke above 1.5200 and strengthened. The short term outlook continues to favor the upside, particularly if the pair manages to hold above 1.4200.
The Bank of England upgraded inflation and growth forecasts; downgrading near tear inflation expectations but revised up the medium-term inflation outlook. Current low inflation was attributed to oil and food prices. Carney said that the UK is not experiencing deflation.
Recovery post SNB continues
GBP/CHF is trading at the highest level since January 15, when the SNB abandoned the 1.20 EUR/CHF peg. Today after moving during a week in a range, the pound broke above 1.5200 and strengthened. The short term outlook continues to favor the upside, particularly if the pair manages to hold above 1.4200.