Free Trial

The seasonal trend which has seen Gbp/Usd.....>

CABLE
CABLE: The seasonal trend which has seen Gbp/Usd fall 9 straight years in May
continues to play out with losses currently showing of 1.68%. The BoE is
expected to stand pat at this Thursday's MonPol decision after a run of poor UK
economic data, MNI Pinch is currently showing just a 10% chance of a hike. In
other news, the Times reported that Rain Newton-Smith is said to be a
frontrunner to replace Ian McCafferty on the BoE MPC when his term concludes in
August. Smith is a known dove, which could swing the balance further into dove
territory. A broader based USD amid firmer UST yields/DXY has seen GBPUSD pare
overnight gains to $1.3528, before fading. The Asia low provides support at
$1.3521, ahead of $1.3487 (May4 low). The 200-dma will also be watched on a
closing basis today, this comes in at $1.3542. Cable last trades $1.3538. 

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.