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11 Mar 2015
GBP/USD to remain submerged below 1.5100 – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, notes that GBP/USD might remain heavy in the interim, especially if USD strength and EUR weakness continues to play.
Key Quotes
“January industrial production numbers are due today but the pair may remain submerged below the 1.5100 handle (despite the EURGBP crashing out to 0.7100) if USD strength/EUR weakness remain a fixture in global markets.”
“Note markets also disregarded the latest comments from the BOE’s Carney, who stated that it would be foolish to lean against the wind of lower crude prices by utilizing monetary policy.”
“In the interim, we grow increasingly heavy on the pair, especially if the key psychological 1.5000 level is breached.”
Key Quotes
“January industrial production numbers are due today but the pair may remain submerged below the 1.5100 handle (despite the EURGBP crashing out to 0.7100) if USD strength/EUR weakness remain a fixture in global markets.”
“Note markets also disregarded the latest comments from the BOE’s Carney, who stated that it would be foolish to lean against the wind of lower crude prices by utilizing monetary policy.”
“In the interim, we grow increasingly heavy on the pair, especially if the key psychological 1.5000 level is breached.”