Sterling taking the lime light - Investec

By FXstreet.com | June 12, 2014 AAA

FXStreet (Guatemala) - Jonathan Pryor, Corporate Treasury Analyst at Investec noted the moves and shakers around USD, GBP and EUR.



Key Quotes



"Sterling took over the ‘attention baton’ from the EUR yesterday as employment data served as a catalyst to finally push GBP/EUR above the 1.2400 level. Further improvements to the UK unemployment rate led investors to believe that spare capacity in the UK economy is perhaps shrinking faster than the BOE expect."



"Investors continue to bet on a first hike of interest rates in the UK, earlier than the BOE are signalling. After the data was released there was demand for GBP taking GBP/USD up towards the 1.6800 level again. EUR/USD again struggled to get through the 1.3520 area as 1.3500/20 remains the initial support, and post ECB meeting low, with large option buying interest touted."



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