Quotes from Credit Agricole CIB:
-The GBP has been capped, mainly on the back of weaker than expected manufacturing sector related business activity. Even if the latest numbers came in below expectations, it must still be noted that the PMI’s employment component remains close to the highest reading in several years.
-In an environment of improving labour market conditions price developments should increasingly stabilize, especially if consumption holds up. Accordingly, we remain of the view that GBP dips should be bought, for instance against the USD. Investors’ focus will now shift to the services PMI release on Thursday.
Published: 2014-04-02 07:47:00 UTC+00
Gbp Dips Should be Bought
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