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7 Aug 2014
Markets await BoE inflation report - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank notes that the pound remain in recent ranges post BoE.
Key Quotes:
"GBP is essentially flat as the BoE left all policy measures on hold, with interest rates at 0.5%. Next week’s Inflation Report (August 13th) will provide clarity on how the BoE’s views are unfolding and is a major hurdle for GBP, followed by the release of today’s minutes on August 20th."
"GBP/USD short‐term technicals: bearish ‐ however the test down to 1.6786 that we expected is proving a challenge with the European session warning of building uncertainty over the outlook for GBP."
Key Quotes:
"GBP is essentially flat as the BoE left all policy measures on hold, with interest rates at 0.5%. Next week’s Inflation Report (August 13th) will provide clarity on how the BoE’s views are unfolding and is a major hurdle for GBP, followed by the release of today’s minutes on August 20th."
"GBP/USD short‐term technicals: bearish ‐ however the test down to 1.6786 that we expected is proving a challenge with the European session warning of building uncertainty over the outlook for GBP."