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14 May 2015
GBP/USD bid on gradual UK rate increase outlook - Scotiabank
FXStreet (Guatemala) - Eric Theoret, CFA, CMT Chief Currency Strategist at Scotiabank explained that GBP continues to climb.
Key Quotes:
"Testing 1.5800 to reach levels last seen in November 2014."
"The key driver for GBP remains the broader USD trend, with a notable underperformance to EUR over the past two sessions on the back of a less hawkish-than-expected BoE."
"Media comments from BoE Gov. Carney have centered on weak UK productivity, the referendum and its impact on business decision-making. The policy tone was maintained with a focus on ‘limited and gradual’ rate increases."
Key Quotes:
"Testing 1.5800 to reach levels last seen in November 2014."
"The key driver for GBP remains the broader USD trend, with a notable underperformance to EUR over the past two sessions on the back of a less hawkish-than-expected BoE."
"Media comments from BoE Gov. Carney have centered on weak UK productivity, the referendum and its impact on business decision-making. The policy tone was maintained with a focus on ‘limited and gradual’ rate increases."