23 Jan 2014
Flash: Higher productivity would benefit GBP - Scotiabank
FXstreet.com (Barcelona) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank, noted the recent strong upside in the sterling.
Key Quotes
"GBP is strong, up 0.75%, having rallied to a fresh 2.5year high. The rally came on the back of a broader European currency rally".
"In a further effort to distance itself from the 7% unemployment threshold, the BoE’s Fisher suggested today that it is crucial to see rising productivity and that the UK needs “to see rising employment accompanied by even faster growth in output” therefore there is no immediate need for tighter policy."
Key Quotes
"GBP is strong, up 0.75%, having rallied to a fresh 2.5year high. The rally came on the back of a broader European currency rally".
"In a further effort to distance itself from the 7% unemployment threshold, the BoE’s Fisher suggested today that it is crucial to see rising productivity and that the UK needs “to see rising employment accompanied by even faster growth in output” therefore there is no immediate need for tighter policy."