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US: 2015 rate hike, a step away – Investec

FXStreet (Delhi) – Research Team at Investec, notes that markets took another step away from a 2015 US rate rise after Friday's Non-Farm Payroll release saw a miss on the headline job creation number and revisions down to the prior release.

Key Quotes

“The price action after the release went a long way to explain why the Euro has been gaining against the Pound, with the Euro rallying a cent and a half against the greenback post-numbers while the Pound only gained a third of that (with UK rate rise expectations likely linked to the Fed's action). This caused a sharp GBPEUR fall on a weak US release, and going back to the beginning of the GBPEUR free fall of the last couple of weeks we can certainly tie this to the build-up and disappointment at the September FOMC meeting.”

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