Free Trial

Press conference so far on the dovish side

BOE
  • After a set of Minutes which we saw as a hawkish hold and did little to talk down market rates, the tone of the press conference has been more downbeat and focused on inflation falling further below target after the end of the end of the 3-year forecast period.
  • This has seen another leg higher for the short sterling strip and the pound has continued to sell-off. Next level for EURGBP at 0.8561, the 61.8% retracement of the Sep 29 - Oct 26 sell-off.
  • For GBPUSD we have broken through the 1.3544 October 6 low with the next support at 1.3512, the 76.4% retracement of the Sep 29-Oct 20 rally.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.