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3 Apr 2014
BoE considering rate hike - OCBC Bank
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank notes that the BoE’s Carney has stated that he is not ruling out a rate hike before the election next spring.
Key Quotes
"A disappointing March construction PMI partially weighed on the pound with further cues expected from the ECB later today. On the data front, the March UK composite and services PMI readings are also on tap today."
"Stay neutral to slightly supported on the pair with the 55-day MA (1.6579) a near term crutch while 1.6700 up top should still cap in the interim. Notably, the BOE’s Carney this morning said he would not rule out an interest rate hike before the election next spring, sending the GBP/USD reaching for 1.6650."
Key Quotes
"A disappointing March construction PMI partially weighed on the pound with further cues expected from the ECB later today. On the data front, the March UK composite and services PMI readings are also on tap today."
"Stay neutral to slightly supported on the pair with the 55-day MA (1.6579) a near term crutch while 1.6700 up top should still cap in the interim. Notably, the BOE’s Carney this morning said he would not rule out an interest rate hike before the election next spring, sending the GBP/USD reaching for 1.6650."