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16 Apr 2014
GBP/USD pressuring year highs – FXStreet
FXStreet (Edinburgh) - In the opinion of Currency Analyst Valeria Bednarik at FXStreet, today’s UK data reinforces expectations for a sooner-than-anticipated rate hike by the BoE.
Key Quotes
“Despite the Central Bank has largely expressed that the threshold of 7.0% is not a reason to raise rates, the market continues to price in a sooner than expected rate hike in the UK, moreover with this news”.
“Having established above the 1.6800 level, the GBP/USD 4 hour chart shows a strong upward momentum coming from technical readings, while price broke above its 20 SMA now turning higher around 1.6740”.
Key Quotes
“Despite the Central Bank has largely expressed that the threshold of 7.0% is not a reason to raise rates, the market continues to price in a sooner than expected rate hike in the UK, moreover with this news”.
“Having established above the 1.6800 level, the GBP/USD 4 hour chart shows a strong upward momentum coming from technical readings, while price broke above its 20 SMA now turning higher around 1.6740”.