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14 Jan 2015
GBP/USD support at 1.5100 might remain under threat – OCBC
FXStreet (Barcelona) - According to OCBC Bank, GBP/USD support at 1.5100 might remain under threat in the near term, with below than expected UK’s December CPI at 0.5%yoy doing little to support the pound.
Key Quotes
“The pound may have very little to build upon with the UK’s December CPI readings (+0.5% yoy) coming in softer than expected on Tuesday while the BOE’s Carney also noted that the outlook for rates is lower compared to a year ago and that inflation could moderate further in the coming months. In the near term, the pair may well stall on any rallies back to 1.5250 while the support at 1.5100 may remain under threat. “
Key Quotes
“The pound may have very little to build upon with the UK’s December CPI readings (+0.5% yoy) coming in softer than expected on Tuesday while the BOE’s Carney also noted that the outlook for rates is lower compared to a year ago and that inflation could moderate further in the coming months. In the near term, the pair may well stall on any rallies back to 1.5250 while the support at 1.5100 may remain under threat. “