Back
13 Feb 2014
Flash: GBP/USD to go beyond recent high
FXStreet (San Francisco) - Jonathan Pryor, Head of FX Dealing at Investec, commented in a recent report that he would expect more gains in the Sterling to Dollar exchange rate. Pryor affirmed that a weak retail sales plus Carney's comments will fuel the cross.
Key quotes:
“A thin month for US retail thanks to the January whiteout will also have a chilling effect on the value of the dollar."
"We saw signs of dollar selling even before the figures were released, when the market still expected the latest sales number to be flat on December. But the 0.4% dip could well accelerate this as a depressed US retail sector threatens to become a theme following the second consecutive month of decline."
"With Mark Carney’s comments propelling sterling higher against the dollar yesterday, we expect today’s figures to maintain this momentum, potentially driving the cable rate beyond even recent highs.”
Key quotes:
“A thin month for US retail thanks to the January whiteout will also have a chilling effect on the value of the dollar."
"We saw signs of dollar selling even before the figures were released, when the market still expected the latest sales number to be flat on December. But the 0.4% dip could well accelerate this as a depressed US retail sector threatens to become a theme following the second consecutive month of decline."
"With Mark Carney’s comments propelling sterling higher against the dollar yesterday, we expect today’s figures to maintain this momentum, potentially driving the cable rate beyond even recent highs.”