7 May 2014
GBP/USD could visit 1.72 near term - Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, notes the likeliness of the GBP/USD to climb beyond the 1.70 handle in the near term.
Key Quotes
"The pound remains very well bid as economic data surprise in the upside and concern about an over-heating housing market continues".
"My GBP/USD ‘baby models' suggest that the pound can spike further, up to 1.72 or so this week; that contrasts with model results for EUR/USD which suggest the Euro is a bit stretched".
"I take longer-term comfort from very well-behaved BRC shop price data, but dovish comments from Yellen could be a catalyst for GBP/USD to camp itself above 1.70 this afternoon."
Key Quotes
"The pound remains very well bid as economic data surprise in the upside and concern about an over-heating housing market continues".
"My GBP/USD ‘baby models' suggest that the pound can spike further, up to 1.72 or so this week; that contrasts with model results for EUR/USD which suggest the Euro is a bit stretched".
"I take longer-term comfort from very well-behaved BRC shop price data, but dovish comments from Yellen could be a catalyst for GBP/USD to camp itself above 1.70 this afternoon."