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2 Aug 2013
Flash: GBP bears lacks new edge post BoE - Danske Bank
FXstreet.com (Barcelona) - Danske Bank analysts comment that there was no news for the GBP bears as the BoE, as expected, held policy.
Key Quotes
“Policy rates and asset purchases (were) unchanged. and (BoE) repeated that the details regarding ‘forward guidance and thresholds’ would be revealed on 7 August.”
“However, yesterday’s strong UK PMI underlines that the UK recovery is ahead of the eurozone’s, which indicates that EUR/GBP might have some further downside over the next couple of days. Especially as the market is record short GBP according to the CFTC data.”
Key Quotes
“Policy rates and asset purchases (were) unchanged. and (BoE) repeated that the details regarding ‘forward guidance and thresholds’ would be revealed on 7 August.”
“However, yesterday’s strong UK PMI underlines that the UK recovery is ahead of the eurozone’s, which indicates that EUR/GBP might have some further downside over the next couple of days. Especially as the market is record short GBP according to the CFTC data.”