15 Oct 2013
Forex: Investor focus in GBP – BTMU
FXstreet.com (London) - Lee Hardman, currency analyst at BTMU noted the UK employment report coming up tomorrow.
Key Quotes:
“Investor focus will then switch to the release tomorrow of the latest UK employment report with it being viewed as a close call as to whether the unemployment rate will decline further towards the BoE’s 7.0% threshold”.
“A drop in the unemployment rate could encourage further speculative pound purchases in the near-term”.
“Still we believe that the pound will likely struggle to extend its recent rebound in the near-term given that BoE rate hikes remain highly unlikely in 2014 even with strong growth, and pound strength already appears to have overshot”.
Key Quotes:
“Investor focus will then switch to the release tomorrow of the latest UK employment report with it being viewed as a close call as to whether the unemployment rate will decline further towards the BoE’s 7.0% threshold”.
“A drop in the unemployment rate could encourage further speculative pound purchases in the near-term”.
“Still we believe that the pound will likely struggle to extend its recent rebound in the near-term given that BoE rate hikes remain highly unlikely in 2014 even with strong growth, and pound strength already appears to have overshot”.