Intraday Market Thoughts

Archived IMT (2009.02.09)

by Ashraf Laidi
Feb 9, 2009 12:26

Sterling outperforms major FX and cable its 5th straight daily gain on tronger than expected H2 profits from Barclay's. The Bank of Englands 50-bp rate cut helped initiate sterlings boost on expectations that the pace of rate cuts will slow ahead, especially after the central bank listed rapid inflation slowdown as a major reason to the cut. Cable seen extending gains past $1.4980 and onto $1.5150. Prolonged improvement in risk appetite is seen adding fresh GBP strength against JPY (138.50), CAD (1.845)


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