I have to admit I’d given up following the testimony of the various BOE officials to the Parliamentary Treasury Committee, but the latest comment from Merve seems to have helped pressure cable down to session low 1.5739. EUR/GBP touch firmer at .8455. But at the end of the day it’s pretty much standard fare, from the stuff I have seen.
I really can’t see the Old Lady doing anything regarding monetary policy until well into next year, and then I think they’ll introduce further QE in response to deteriorating economic data as austerity measures take their toll.
