Cable has plenty priced in - ANZ

By FXstreet.com | July 14, 2014 AAA

FXStreet (Bali) - Brian Martin, FX Strategist at ANZ Research, notes that at present levels, the Sterling has a lot priced in.



Key Quotes



"Sterling remains in its established uptrend against the US dollar which has been evident since its low at 1.4860 in July last year. The pound has recently broken above the 1.70 level and very recently has been consolidating these gains. In part, this consolidation so far in July owes to a natural supply of sterling around current levels."



"There has also been some evidence that the pace of the UK's recovery is easing a bit whilst there have been increasing signs that the US economy is gathering momentum. This might start to weigh on cable. Much depends on forward guidance in the US and perceptions of when the FOMC may “upgrade” its guidance about the normalisation of US interest rates."



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD recovering from Asian lows
    Forex News

    GBP/USD recovering from Asian lows

  2. USD/JPY mellow on the back of USD sell-off
    Forex News

    USD/JPY mellow on the back of USD sell-off

  3. Dollar Cheered in Press, But Data and Fed Chatter Turning
    Forex News

    Dollar Cheered in Press, But Data and Fed Chatter Turning

  4. EUR/USD Downside Targets Favored Ahead of ECB on Slowing Inflation
    Forex News

    EUR/USD Downside Targets Favored Ahead of ECB on Slowing Inflation

  5. US Dollar Technical Analysis: Is a Pullback in the Cards?
    Forex News

    US Dollar Technical Analysis: Is a Pullback in the Cards?

Trading Center