23 Oct 2013
Flash: GBP/USD slightly more supported in the current dollar environment – OCBC
FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank suggests BOE MPC minutes are on tap today with the BOE’s Bean noting yesterday that the UK recovery is gaining traction.
Key Quotes
“Note however that in general, BOE rhetoric of late has tended to revert to its forward guidance – which essentially remains dovish and may hinder excessive GBP outperformance.”
“In the near term, the GBP/USDD may be looking slightly more supported in the current dollar environment although the cap at 1.6260 remains unbroken since early October.”
“Meanwhile, any consolidation lower may see support towards 1.6170.”
Key Quotes
“Note however that in general, BOE rhetoric of late has tended to revert to its forward guidance – which essentially remains dovish and may hinder excessive GBP outperformance.”
“In the near term, the GBP/USDD may be looking slightly more supported in the current dollar environment although the cap at 1.6260 remains unbroken since early October.”
“Meanwhile, any consolidation lower may see support towards 1.6170.”