Forum > View Topic
by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:
GBP
Discuss GBP
0.5% is an extreme policy setting, BOE hawk Sentance says. The UK economy is coming out of the emergency ward. he says.
After firmer UK inflation data today, it looks as though Sentance is trying to recruit more MPC members to join the hawkish camp.
Cable is firmly back within its old range after bouncing from levels below 1.5000 yesterday. 1.5205 is next resistance for the pound. We trade now at 1.5163.
Not Really Pipster, this is likely to continue over night still room on the upside.
Has anyone shorted Gbp/Usd
Ashraf
OBRs Dicks meanwhile says chances of double-dip recession have increased after budget.
LONDON (MNI) Senior Fitch Ratings Analyst Brian Coulton believes
that UK debt will stabilise in the wake of what he called the strong
emergency budget announced by the new government here.
Speaking to Bloomberg, Coulton said that Fitch took the view of the
Office for Budget Responsibility that the UK economic recovery would not
be very strong.
The comments followed Mondays affirmation by S&P of the UKs AAA
rating, although they also signaled that the UK is not yet completely
out of the woods as regards a possible downgrade in the future.
Coulton also touched on the issue of the EU bank stress tests and
said that the tests needed to be realistic and transparent but added
that the EU seemed to have learned the lessons of the US stress tests.
The latter, he said, had always set out a clear strategy for what
to do about those banks which emerged with any kind of problem from the
tests. Coulton noted that the German finance minister had already stated
that this would be the method pursued by the EU.
On the subject of Portugal downgraded by Moodys to A1 this
morning Coulton said that the country had made some progress in
fiscal terms but said that growth remained the key risk for the
Portuguese outlook.
London Bureau; tel: +442078627492; email: dthomas@marketnews.com