16 Jul 2013
Flash: MPC minutes hold key to GBP this week – Investec
FXstreet.com (New York) - The GBP is little changed today against the USD and EUR following the weekend; opening a little below 1.5100 & 1.1600 respectively with markets having made it through this morning’s in line +7.5% China Q2 GDP release unscathed, notes Lee McDarby, Corporate Treasury at Investec.
According to McDarby, “Following the reversals we saw last week after the Fed Chairman’s speech, the market appears to be in a holding pattern awaiting new direction and this could come this week with more important economic data released. With nothing of note due out in the UK today, much of this week’s focus will be on Wednesday’s release of the MPC minutes from Carney’s first meeting as BoE Governor.”
According to McDarby, “Following the reversals we saw last week after the Fed Chairman’s speech, the market appears to be in a holding pattern awaiting new direction and this could come this week with more important economic data released. With nothing of note due out in the UK today, much of this week’s focus will be on Wednesday’s release of the MPC minutes from Carney’s first meeting as BoE Governor.”