How is it the BOE Governor felt it so important to tell Parliament that the BOE was considering lowering its rate on deposits days after an MPC meeting but didn’t see fit to discuss the idea within the MPC? Inquiring minds want to know…
This morning’s Minutes contained no mention of a shift in the deposit rate, lowering the odds of any move at the November meeting.
Cable reached 1.6454 on short-covering after the minutes and is now consolidating at 1.6425. Stops lie in the 1.6460/80 window. 1.6400 is support.
Kudos to Goldman on their sell recommendation in EUR/GBP yesterday. Their clairvoyance continues to astound…The cross trades at 0.8992 from 0.9075 24 hours ago.