22 Oct 2014
GBP trading soft on BoE sentiment - Scotiabank
FXStreet (Barcelona) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that GBP is soft, reacting to the release of the BoE minutes; where a hawkish 7‐2 vote was offset by dovish details.
Key Quotes:
“The BoE highlighted the impact of a strong GBP on both exports and inflation; however the core weight for GBP was that inflation pressures were absent, with falling inflation expectations and a drop in unit lab costs”.
“The expectations for a BoE interest rate hike has been pushed out."
Key Quotes:
“The BoE highlighted the impact of a strong GBP on both exports and inflation; however the core weight for GBP was that inflation pressures were absent, with falling inflation expectations and a drop in unit lab costs”.
“The expectations for a BoE interest rate hike has been pushed out."