Cable has seen some slippage today, presently down at 1.4675 compared to an opening in Europe up around 1.4725. The market now awaits the Bank of England rate decision and more importantly any comments the Bank of England Governor may make regarding the quantitative easing programme.
It’s almost a caste iron certainty the bank will leave rates on hold, but the market will be looking for some reassurance regarding the bank’s commitment to quantitative easing.
Cable support lies at 1.4630, resistance at 1.4690.
