Bullish the pound!
- There may not be a case for more QE in May
- Oil prices are a particular worry
- UK consumption appears to be growing
- CPI may prove more persistent (high) than expected
Is that the sound of the global punch bowl being taken away? Bernanke was a shade less dovish today, the ECB has ended the three-year LTRO (we think) and now a BOE member sounds the alarm over inflation.
Argues for lower gold and a stronger dollar.
EUR/GBP sales might be the way to play the comments.
