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Trading news
27 Feb 2013
Forex Flash: GBP/USD to weaken to 1.478 and possibly beyond - RBS
The Sterling is poised to weaken further following a dovish speech by BoE's Fisher, notes Greg Gibbs, currency strategist at RBS, adding also that "BoE members in testimony reiterated the views discussed in the recent MPC meeting that they were prepared to take further measures to spur growth."
Greg expands: "The UK press reports that Deputy Governor Tucker discussed the possibility of charging banks for leaving cash on deposit at the central bank, which appears to mean targeting negative cash rates. GBP continues to trade below a key support line for the last three years, suggesting a significant break and potential for a slide towards 1.478 and possibly much lower."
Greg expands: "The UK press reports that Deputy Governor Tucker discussed the possibility of charging banks for leaving cash on deposit at the central bank, which appears to mean targeting negative cash rates. GBP continues to trade below a key support line for the last three years, suggesting a significant break and potential for a slide towards 1.478 and possibly much lower."