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20 Mar 2014
GBP/USD doves underpinned by broad USD currents - OCBC Bank
Emmanuel Ng, FX Strategist at OCBC Bank feels that current broad dollar currents may continue to underpin any dovish cable undertones.
Key Quotes
"The post-Yellen reaction erased any gains from supportive UK labor market numbers and a fairly upbeat budget announcement.”
“Current broad dollar currents may continue to underpin the somewhat flat to dovish undertones for cable, especially with the pair having breached the 55-day MA (1.6548) and with investors getting less enamored with positive UK data surprises. Expect the next key psychological support at 1.6500."
Key Quotes
"The post-Yellen reaction erased any gains from supportive UK labor market numbers and a fairly upbeat budget announcement.”
“Current broad dollar currents may continue to underpin the somewhat flat to dovish undertones for cable, especially with the pair having breached the 55-day MA (1.6548) and with investors getting less enamored with positive UK data surprises. Expect the next key psychological support at 1.6500."