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21 Feb 2014
Flash: GBP eyes on UK Retail Sales - OCBC Bank
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank notes that GBP eyes will be firmly positioned on todays UK Retail Sales data.
Key Quotes
"In line with the slight firm dollar tone, the GBP/USD was also weighed by underperforming Feb CBI readings following the softer than expected inflation numbers on Tue).”
“Look towards Jan retail sales and public finances numbers today for further cues while supportive comments from the BOE’s Weal (first interest rate hike is likely in early 2015) on Thursday may limit downside dips in the near term.”
“Expect the pair to attempt to consolidate within a 1.6600-1.6800 range while awaiting the UK data points.
Key Quotes
"In line with the slight firm dollar tone, the GBP/USD was also weighed by underperforming Feb CBI readings following the softer than expected inflation numbers on Tue).”
“Look towards Jan retail sales and public finances numbers today for further cues while supportive comments from the BOE’s Weal (first interest rate hike is likely in early 2015) on Thursday may limit downside dips in the near term.”
“Expect the pair to attempt to consolidate within a 1.6600-1.6800 range while awaiting the UK data points.