25 Sep 2013
Flash: GBP/USD - BoE Miles reinforces dovish credentials - Societe Generale
FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that in the UK, the BoE's David Miles reinforced his dovish credentials yesterday.
Key Quotes
“He may not be voting for additional easing, but he hasn't turned from dove to hawk. That didn't help my sterling-positive view, or indeed help market-pricing of my view that the MPC may hike before the Fed.”
“This morning we get the CBI distributive trades survey. I'm not changing views of the UK. Just sulking! So... Still short EUR/GBP, long GBP/JPY, short of the short end of the UK vs Euros, and of 10s vs the US. Long credit through short iTaxx XO.”
Key Quotes
“He may not be voting for additional easing, but he hasn't turned from dove to hawk. That didn't help my sterling-positive view, or indeed help market-pricing of my view that the MPC may hike before the Fed.”
“This morning we get the CBI distributive trades survey. I'm not changing views of the UK. Just sulking! So... Still short EUR/GBP, long GBP/JPY, short of the short end of the UK vs Euros, and of 10s vs the US. Long credit through short iTaxx XO.”