9 May 2014
Bank of England and critical GBP levels to break - UBS
FXStreet (Córdoba) - The UBS analyst team commented that with GBP/USD flirting with 1.70, they expect the pound to strengthen further.
Key Quotes
“The Bank of England kept the policy rate and the amount of the asset purchase facility unchanged, as expected”.
“On the other hand, the strong economic data in the UK keep Sterling in demand and the currency trading close to important levels on different crosses. GBPUSD is flirting with 1.70 – a 5 year high. EURGBP with 0.8150 – a 1.5 year low”.
“Next week's Inflation Report could be the important trigger to move Sterling through these levels. We continue to see the pound stronger from here on”.
Key Quotes
“The Bank of England kept the policy rate and the amount of the asset purchase facility unchanged, as expected”.
“On the other hand, the strong economic data in the UK keep Sterling in demand and the currency trading close to important levels on different crosses. GBPUSD is flirting with 1.70 – a 5 year high. EURGBP with 0.8150 – a 1.5 year low”.
“Next week's Inflation Report could be the important trigger to move Sterling through these levels. We continue to see the pound stronger from here on”.