Despite stronger production numbers (which it looks like the market had already factored in), the weaker BOE inflation estimates and poor BOE satisfaction reading appears to have taken the shine of the ‘proud pound’, and word in the street is that the offers up ahead of the 1.6000 barrier are sizeable and may contain some sovereign selling interest.
Bids are now seen around the 1.5950 ( where earlier barrier was flushed) with more seen down ahead of 1.5900.
Guess its all down to the NFP release at 1230GMT to determine the next move….
Cable’s relatively static in the low 1.5970’s
