20 Jan 2014
Flash: GBP awaits the BoE minutes - Scotiabank
FXstreet.com (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that the markets are awaiting the minutes from the BoE.
Key Quotes
"GBP is up 0.1% since Friday’s close, having traded in a relatively narrow 207‐point range (1.6310 to 1.6517) since January 3rd as developments have been limited. This week will mark some important fundamental developments, including the release of employment and the BoE minutes, which should provide a foundation for the path of GBP."
"We suggest that the currency has been priced or perfection and even in an environment of improving employment, with inflation at target, the BoE will remai cautious for longer than the market currently expects. We hold a yearend GBP target of 1.59. C.S."
Key Quotes
"GBP is up 0.1% since Friday’s close, having traded in a relatively narrow 207‐point range (1.6310 to 1.6517) since January 3rd as developments have been limited. This week will mark some important fundamental developments, including the release of employment and the BoE minutes, which should provide a foundation for the path of GBP."
"We suggest that the currency has been priced or perfection and even in an environment of improving employment, with inflation at target, the BoE will remai cautious for longer than the market currently expects. We hold a yearend GBP target of 1.59. C.S."