Sterling keeps pushing higher - BTMU

By FXstreet.com | July 16, 2014 AAA

FXStreet (Barcelona) - Derek Halpenny, European Head of Currency Strategy at the Bank of Tokyo Mitsubishi UFJ, remarks the solid tone from the GBP.



Key Quotes



"To see how data and changed forward guidance can alter currency performance we just need to look at the UK. The pound remains on a strengthening path fuelled by the higher than expected inflation print yesterday."



"Still, the BOE expected a Q2 CPI annual rate of 1.8% and the actual rate was 1.73%, so the BOE is perhaps not overly concerned. We get the jobs data today and soft wage data may help contain further pound gains. However, the wage picture is likely to change and we still expect the pound to out-perform ahead of the first BOE rate increase in November."



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD sitting pretty despite lower CPI’s
    Forex News

    GBP/USD sitting pretty despite lower CPI’s

  2. GBP/USD technical are mixed - Scotiabank
    Forex News

    GBP/USD technical are mixed - Scotiabank

  3. Still solid GDP growth - BNP
    Forex News

    Still solid GDP growth - BNP

  4. GBP/USD extends gains, nears 1.6100
    Forex News

    GBP/USD extends gains, nears 1.6100

  5. USDOLLAR Breaks October Downtrend, GBP’s GDP Rally Fizzles
    Forex News

    USDOLLAR Breaks October Downtrend, GBP’s GDP Rally Fizzles

Trading Center