10 Dec 2013
Flash: GBP target areas? – BBH
FXstreet.com (London) - Strategists at BBH offer an insight into the recent data and news surrounding GBP/USD.
Key Quotes:
“Trade was also reported, at –GBP2.6 bln vs. –GBP2.8 bln consensus and a revised –GBP2.6 bln (was –GBP3.3 bln) in September”.
“ In a speech in New York Monday, BOE Governor Carney broke no new ground. He reiterated his stance that the UK recovery will need to be sustained for awhile before higher interest rates are justified”.
“Sterling is participating in the rally against the dollar, with cable making a new high for this move today near $1.6465. There are some intermediate targets in the $1.66 and $1.6750 areas, but the next major target is likely to be the August 2009 high near $1.70”.
Key Quotes:
“Trade was also reported, at –GBP2.6 bln vs. –GBP2.8 bln consensus and a revised –GBP2.6 bln (was –GBP3.3 bln) in September”.
“ In a speech in New York Monday, BOE Governor Carney broke no new ground. He reiterated his stance that the UK recovery will need to be sustained for awhile before higher interest rates are justified”.
“Sterling is participating in the rally against the dollar, with cable making a new high for this move today near $1.6465. There are some intermediate targets in the $1.66 and $1.6750 areas, but the next major target is likely to be the August 2009 high near $1.70”.