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19 Feb 2014
Flash: GBP has a stronger demand outlook - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that the news stream has been light today and the main development has been the UK data.
Key Quotes
"The take away here is that the unemployment rate ticked up to 7.2% from 7.1%, even though the claimant count fell more than expected (27.6k vs. -20k expected)."
"This comes on the heels of the soft CPI report yesterday and favors the BOE's push against the need for an early rate hike. Short-sterling futures have continued to recover from last week's slide."
"The MPC minutes did not create much of a stir, but there was an unusual reference to sterling. It observed that analysts attributed its strength to the stronger demand outlook."
Key Quotes
"The take away here is that the unemployment rate ticked up to 7.2% from 7.1%, even though the claimant count fell more than expected (27.6k vs. -20k expected)."
"This comes on the heels of the soft CPI report yesterday and favors the BOE's push against the need for an early rate hike. Short-sterling futures have continued to recover from last week's slide."
"The MPC minutes did not create much of a stir, but there was an unusual reference to sterling. It observed that analysts attributed its strength to the stronger demand outlook."