Forex Flash: GBP/USD sell on rallies – Rabobank
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GBP/USD
FXstreet.com (Barcelona) - The sterling is hovering around the key mark of 1.5900 on Monday, propped up by the rising risk appetite that dominates the session so far, ahead of the BoE minutes to be released on Wednesday. GBP is thus recovering the ground lost after the dovish BoE's inflation report last week and the later speech by Governor M.King.
Senior Currency Strategist Jane Foley at Rabobank, "during this meeting the committee was informed about the accumulated interest on QE bonds that was to be transferred to the Treasury. According to the BoE, the MPC judged this to be a moderate expansion and this will have contributed to the MPC's decision to leave policy on hold this month& On our view the rhetoric within the minute will be dovish and we would favour selling sterling on rallies this week".
Senior Currency Strategist Jane Foley at Rabobank, "during this meeting the committee was informed about the accumulated interest on QE bonds that was to be transferred to the Treasury. According to the BoE, the MPC judged this to be a moderate expansion and this will have contributed to the MPC's decision to leave policy on hold this month& On our view the rhetoric within the minute will be dovish and we would favour selling sterling on rallies this week".
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