9 Jan 2014
Flash: Pound continues to strengthen in early 2014 - BTMU
FXstreet.com (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the pound is continuing to strengthen in early 2014 with EUR/GBP falling to its lowest level yesterday since the 11th January 2013.
Key Quotes
“The pound is continuing to derive support from the improving outlook for the UK economy. The release yesterday of the BoE’s credit conditions survey for Q4 2013 revealed that credit conditions in the UK are likely to become more supportive for economic growth ahead.”
“The BoE is unlikely to change its monetary policy stance at today’s meeting and is unlikely to release a policy statement. “
“The accompanying MPC minutes when subsequently released may continue to display concern over the strengthening pound which may act to modestly dampen growth in the years ahead.”
“Still while pound strength is backed up by the performance of the UK economy, the strengthening trend is likely to remain in place.”
Key Quotes
“The pound is continuing to derive support from the improving outlook for the UK economy. The release yesterday of the BoE’s credit conditions survey for Q4 2013 revealed that credit conditions in the UK are likely to become more supportive for economic growth ahead.”
“The BoE is unlikely to change its monetary policy stance at today’s meeting and is unlikely to release a policy statement. “
“The accompanying MPC minutes when subsequently released may continue to display concern over the strengthening pound which may act to modestly dampen growth in the years ahead.”
“Still while pound strength is backed up by the performance of the UK economy, the strengthening trend is likely to remain in place.”