OctaFX | OctaFX Forex Broker
Open trading account

GBP - at the mercy of the BoE? - Rabobank

FXStreet (Guatemala) - Analysts at Rabobank noted that the publication of the minutes of the Bank of England’s August MPC meeting confirmed that two members of the nine person committee voted in favour of a rate hike this month.

Key Quotes:

“Sterling, however, saw little sustained reaction. Even though it appears that the Bank is edging closer to the first rate hike of the cycle, the arguments made by the doves are compelling”.

“Since the August meeting took place both wage inflation and CPI inflation data releases have been weaker than expected”.

“We remain of the view that the BoE will not hike rates until May 2015, at the earliest. That said, we retain a preference to sell EUR/GBP on rallies on the back of weak Eurozone data and the risk that the ECB will continue to threaten further monetary policy accommodation”.

USD/CHF testing 2014 highs

The USD/CHF gained momentum after Janet Yellen’s speech in Jackson Hole and rose from 0.9115 to 0.9153, reaching the highest price since January 21, just a two pips below 2014 highs.
Read more Previous

USD/CAD holding the range, eyes for 1.0800 2015

USD/CAD is trading at 1.0947, up 0.06% on the day, having posted a daily high at 1.0982 and low at 1.0925.
Read more Next
Start livechat