OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD remains bearish – Scotiabank

FXStreet (Edinburgh) - Camilla Sutton, Chief FX Strategist at Scotiabank, signalled the outlook on the pair remains on the bearish side.

Key Quotes

“Unlike several other currency pairs, GBPUSD is still moving in tandem with US-UK 2 year spreads”.

“The expectations for the first BoE rate hike increase is shiting from late this year to mid-2015; partially a response to a softening in the data, including inflation levels which are now below 2% and trending lower”.

“Today trade data was disappointing as exports dropped to four-year lows, highlighting how vulnerable the UK is to difficult growth outlooks both within and beyond Europe”.

“Next week the focus will be CPI, expected to drift lower to 1.4% and 1.8% on headline and core, respectively; followed by the employment release later in the week”.

EUR/USD found support near 1.2600

The shared currency remains submerged in the red territory as markets surrender to the weekend lull, taking EUR/USD to the 1.2630/35 region so far...
Read more Previous

Stronger USD will drag EUR/USD to 1.22 in 12m – Rabobank

Jane Foley, Senior Currency Strategy at Rabobank, sees the pair slipping back to 1.2200 in a 12-month view...
Read more Next
Start livechat