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6 Mar 2013
Forex Flash: King and Baily to testify in Parliament but eyes remain on MPC tomorrow - Societe Generale
Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that in the UK, Mervyn King and Andrew Baily testify in parliament this morning but the day before an MPC meeting we will not hear anything on monetary policy.
He writes, “GBP shorts are unlikely to get encouragement. House price and car registration data are due and while UK car sales are hardly ‘rampant’ they are a lot better than in most of Europe. Watch EUR/GBP, now consolidating after the rally from 0.78 to 0.88, and vulnerable to a slide lower if 0.86 breaks.”
He writes, “GBP shorts are unlikely to get encouragement. House price and car registration data are due and while UK car sales are hardly ‘rampant’ they are a lot better than in most of Europe. Watch EUR/GBP, now consolidating after the rally from 0.78 to 0.88, and vulnerable to a slide lower if 0.86 breaks.”