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Thursday, 18 Jul '13
Flash: GBP weakness on the horizon? – Investec
Corporate Treasury Lee McDarby at Investec weighs the recent rise of the GBP coupled with BoE action.
GBP rally short-lived?
According to McDarby, “Forward guidance form the BoE also looks to remain on the table for August, with the minutes noting an announcement on this would come alongside the 7 August Inflation Report and not at the 1 August meeting itself.”
Moreover, “We are cautious in viewing these minutes as ‘hawkish’ with the Committee clearly weighing up more stimulus options and with QE still on that list, the move higher in the GBP may be short lived.”
