7 Apr 2015
Sterling unmoved in past days - KBC
FXStreet (Barcelona) - The KBC Bank Research Team comments on the performance of GBP/USD and EUR/GBP in the past days, noting that UK election scenario is creating additional uncertainty for the Pound.
Key Quotes
“In the past few days, also UK markets were closed. So, there was no specific UK eco news. The “great” election debate on Thursday eve didn’t bring much fireworks. There were no clear victors and thus the race remains entirely open. So, that suggests more uncertainty for sterling.”
“The reaction of EUR/GBP on US developments like the payrolls, US NY Dudley speech and the higher oil price was quite neutral. EUR/GBP hovered sideways on Friday and Monday in a tight range (0.7326 and 0.7379) and closed near Friday’s opening levels. The pair is however very close to key resistance (0.7405), while short term resistance is at 0.7384.”
“Volatility was bigger in cable, but also here the pair made no significant move.”
Key Quotes
“In the past few days, also UK markets were closed. So, there was no specific UK eco news. The “great” election debate on Thursday eve didn’t bring much fireworks. There were no clear victors and thus the race remains entirely open. So, that suggests more uncertainty for sterling.”
“The reaction of EUR/GBP on US developments like the payrolls, US NY Dudley speech and the higher oil price was quite neutral. EUR/GBP hovered sideways on Friday and Monday in a tight range (0.7326 and 0.7379) and closed near Friday’s opening levels. The pair is however very close to key resistance (0.7405), while short term resistance is at 0.7384.”
“Volatility was bigger in cable, but also here the pair made no significant move.”