Strategist Kit Juckes at Societe Generale argued the sterlingremains well supported for the time being.
“The biggest rate mover yesterday was the front end of the sterling curve, though 'biggest' rather overstates the move!”.
“The GDP data were a mixed bag, details less impressive than the headline, but the pace of rate hikes implied by the front end of the UK curve is slower than in the US and has room to adjust, providing support for sterling as long as we don't talk about the balance of payments, or Brexit”.
February 21, 2017 XAU/USD pair maintained a bullish tone
Gold weakened on Monday amid a light market as American stocks were closed due to the President's day celebration. Market players wait for further hints regarding Fed’s rate hike timing...
February 21, 2017 Oil is heading in the right direction
Despite the assurance about the soft Brexit from the British Prime Minister the in consideration of the bill has been proving opposite, and the suppressing growth attempts of the British currency...
February 21, 2017 Greenback higher, but no incentives for big moves
After a muted trading session on Monday due to the U.S. holiday, the USD is finally showing signs of strength in early Asian trade as investors await economic data, speeches from several Fed Presidents, and minutes of the latest FOMC meeting.
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