24 Jun 2014
Corrections in GBP/USD should be shallow - RBS
FXStreet (Barcelona) - Greg Gibbs, FX Trading Strategist at RBS, sees any pullbacks in GBP to be limited.
Key Quotes
"Further fundamental deterioration of EUR vs. USD evident in lower PMI in Europe and stronger PMI in US (high in the Markit series since 2010). Dovish talk from the ECB continues."
"There will be several Fed speakers this week, they may be less dovish. GBP event risk starts tonight with BoE parliamentary testimony. The risks are for a pull-back in the GBP, but its yield support, trend and solid global risk appetite suggest that correction may be shallow."
Key Quotes
"Further fundamental deterioration of EUR vs. USD evident in lower PMI in Europe and stronger PMI in US (high in the Markit series since 2010). Dovish talk from the ECB continues."
"There will be several Fed speakers this week, they may be less dovish. GBP event risk starts tonight with BoE parliamentary testimony. The risks are for a pull-back in the GBP, but its yield support, trend and solid global risk appetite suggest that correction may be shallow."