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5 Mar 2013
Forex Flash: Soft UK PMIs could get tongues wagging - Societe Generale
Kit Juckes, Global head of Currency Strategy at Societe Generale feels that soft UK PMI numbers today could get people talking before Thursday´s MPC meeting.
He writes, “I hope we haven’t missed a chance to take profit in short GBP/USD. There is a risk of the MPC doing less than the GBP 25bn in QE the market discounts but I am holding out for more weakness in the next 48 hours, and leaving a GBP/USD 1.53 stop in place, just in case.”
He writes, “I hope we haven’t missed a chance to take profit in short GBP/USD. There is a risk of the MPC doing less than the GBP 25bn in QE the market discounts but I am holding out for more weakness in the next 48 hours, and leaving a GBP/USD 1.53 stop in place, just in case.”