Nor exactly going to please the GBP bulls
GBPUSD testing 1.5100 support, again
- growth reinforced by macroprudential measures
- could use mon pol to address macroprudential risks
GBPUSD has posted new session lows of 1.5101 but bids holding up for the moment
- global equilibrium interest rates are likely to stay below historic averages for a considerable period of time
- real equilibrium interest rate in UK has turned positive and likely to rise further as headwinds dissipate
- no need for negative interest rates
That last comment is hardly surprising
Kristin Forbes the bull on the team says:
- next move in interest rates will be up
- UK is seeing a solid recovery
- evidence that QE has become less effective is very weak and mixed
GBPUSD finding a little comfort in the other side of the argument and currently 1.5118 again
