Forex Flash: Carney Testimony in focus - Societe Generale
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EUR/GBP
FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that Mr Carney's testimony to the Treasury Select Committee isn't likely to see fireworks today but will be closely watched nonetheless.
He writes, "The Governor-elect will doubtless want to get to know the MPC members before pushing for radical change, but the Chancellor is pressing for more monetary easing in one form or another, and the risk is that any sign of dovish bias will be picked up in the press and markets and GBP will start to weaken again. Long EURGBP seems a low-ish risk trade today. UK industrial production and trade data are also due."
He writes, "The Governor-elect will doubtless want to get to know the MPC members before pushing for radical change, but the Chancellor is pressing for more monetary easing in one form or another, and the risk is that any sign of dovish bias will be picked up in the press and markets and GBP will start to weaken again. Long EURGBP seems a low-ish risk trade today. UK industrial production and trade data are also due."
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