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Forex pairs in this Article » GBP/USD (Barcelona) - Kit Juckes, head of currency strategy at Societe Generale said sterling remains poised at crucial levels vs. the dollar.


“The BOE took a first step to normalise policy yesterday in the face of a strong housing market. The Funding for Lending Scheme will no longer see a subsidy for banks to lend for mortgages and personal loans”.

“This recognises the strength of the housing market and the long-term risks that can pose, and is a clear attempt to use ‘macro-prudential' steps to reduce that risk, rather than be forced to raise rates earlier than planned. The pound likes the news, choosing to focus on the upbeat message about the economy”.

“Sterling remains poised at crucial levels vs. the dollar, Euro and Swiss franc. Watch for a break of GBP/USD 1.6380 to trigger a further spike for the pound generally”.
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