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28 Feb 2014
Flash: GBP stays positive - UBS
FXStreet (Córdoba) - The UBS analyst team doesn't expect the weather to affect the UK PMI next week.
Key Quotes
"US and Canadian economic data was recently adversely affected by unusually cold weather. Over the last few weeks, also the UK experienced unusually wet weather, having caused a number of floods. However, given this week's surveys from the BBA (British Bankers Association) and the CBI (Confederation of British Industry), we don't expect strong effects on the PMI".
"But even if the PMI would drop on weather related factors, it won't change the broad based recovery of the UK. We stay GBP positive".
Key Quotes
"US and Canadian economic data was recently adversely affected by unusually cold weather. Over the last few weeks, also the UK experienced unusually wet weather, having caused a number of floods. However, given this week's surveys from the BBA (British Bankers Association) and the CBI (Confederation of British Industry), we don't expect strong effects on the PMI".
"But even if the PMI would drop on weather related factors, it won't change the broad based recovery of the UK. We stay GBP positive".