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Exchange rate ‘unreasonably strong’ – BoE’s G.Vlieghe

FXStreet (Edinburgh) - Recently appointed BoE MPC member Gertjan Vlieghe argued that economic risks in the UK remains tilted to the downside, stressing at the same time the ‘unreasonably strong’ level of the exchange rate.

Furthermore, Vlieghe has stated that the next move in interest rates is likely ‘to be up than down’, adding at the same time that the effectiveness of QE has decreased over time.

GBP/USD remains on the negative ground around 1.5250, coming down from the vicinity of the 1.5400 handle posted in early trade.

EUR/JPY drops to 136.00 after German Zew data

The EUR/JPY pair fell to a session low of 136.00 after the German Zew survey figures highlighted the worsening of the sentiment in the Eurozone’s second largest economy.
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GBP/USD recovers to hourly 200-SMA

The GBP/USD pair dropped sharply to the lowest levels since Oct 7 after the poor UK CPI print, and now attempts a minor-recovery as Bank of England’s (BOE) Vlieghe testifies on his appointment before the Treasury Select Committee, in London.
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