24 Oct 2013
Flash: Soaring EUR/USD breaks EUR/GBP monotony - Investec
FXstreet.com (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec notes that the soaring EUR/USD has finally caused a break in the monotony of EUR/GBP, which until yesterday had been stuck in a 1 cent range for almost four weeks.
Key Quotes
“The non-event of the latest UK MPC minutes released yesterday had very little influence on the market although it is worth noting there was no mention at all of any concern regarding the recent pound strength, which supported the move from 1.6120 back to 1.6200 in GBP/USD yesterday afternoon.”
“Finally, he has been quiet for a little while now but Mark Carney is due to speak this evening so we will be watching closely to see if he sheds further light on the Bank of England’s prognosis of the UK economic recovery after a relatively cagey set of MPC minutes.”
“In the mean time, we will learn how much Coca-cola have boosted profits on the back of their marketing campaigns to tempt us all in and buy a Coke bottle with our name on it when they release their financial result later today.”
Key Quotes
“The non-event of the latest UK MPC minutes released yesterday had very little influence on the market although it is worth noting there was no mention at all of any concern regarding the recent pound strength, which supported the move from 1.6120 back to 1.6200 in GBP/USD yesterday afternoon.”
“Finally, he has been quiet for a little while now but Mark Carney is due to speak this evening so we will be watching closely to see if he sheds further light on the Bank of England’s prognosis of the UK economic recovery after a relatively cagey set of MPC minutes.”
“In the mean time, we will learn how much Coca-cola have boosted profits on the back of their marketing campaigns to tempt us all in and buy a Coke bottle with our name on it when they release their financial result later today.”