GBP

This from MNI FX Bullets about sterling having fallen earlier on rumours of Weale. Anyway, cable is now stabilizing near the 100 dma


"Bunds opened lower, tracking weaker USTs overnight, but then pared losses with squeeze higher in UK
Gilts on unsubstantiated market talk that BoE MPC weale may have switched his 25bps rate hike vote to unchanged rates ahead of the publication of minutes for the May MPC meeting. However, the rumour
proved to be false with MPC voting pattern unchanged from April meeting. "


Ashraf

Here are those DOVISH comments from BoE's Broadbent:

Cable 70 pips off its highs.. (stops still NOT hit from yesterdays premium piece)

From MNIFX Bullets

05:13 05/17
BOE BROADBENT: FX is important part of transmission of policy
-- Rates could not have done much vs credit bubble
-- Broadly speaking uk is on right fioscal course
-- Fiscal retrenchment does have an impact on econ
-- Fiscal policy may be reason why growth slow
-- If policy needs easing it will be via QE
-- If econ got genuinely slower would be QE case
-- Not my central scenario for growth to slow more
-- On central BOE projection no case for QE
-- Monpol can't tackle productivity problems
-- UK has had weak income growth even pre-crisis


Ashraf