No respite for cable as yet, the pairing presently at 1.5150, just above session low 1.5143. The market didn’t really like anything in the latest quarterly BOE inflation report. The growth forecasts were worse than had been generally expected and the inflation forecasts mean we’ll see UK rates low for sometime to come.
The general tone of the report and King comments at his press conference were pretty dour, one might even say dire.
Supports now at 1.5135 1.5115/20, resistance at 1.5200.