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18 Mar 2016
GBPUSD trading at one month highs - Investec
Research Team at Investec, notes that the Pound hit one month highs against the US Dollar yesterday trading back up to 1.4500 after the pair's recent foray under 1.4000.
Key Quotes
“First a dovish message from the FOMC on Wednesday evening sent the greenback lower, confusing markets that were expecting a 'data dependent' Fed to be more hawkish as inflation and employment both continue their recovery.
Then the Bank of England (BOE) yesterday signalled to markets a rate cut is unlikely as minutes didn't show such a move was even discussed. The Pound continued higher triggering a number of short term resistance levels and putting us within touching distance is some very key resistance between 1.4560 and 1.4640.”
Key Quotes
“First a dovish message from the FOMC on Wednesday evening sent the greenback lower, confusing markets that were expecting a 'data dependent' Fed to be more hawkish as inflation and employment both continue their recovery.
Then the Bank of England (BOE) yesterday signalled to markets a rate cut is unlikely as minutes didn't show such a move was even discussed. The Pound continued higher triggering a number of short term resistance levels and putting us within touching distance is some very key resistance between 1.4560 and 1.4640.”