13:36 GBP falls back as no 'meat' for the rate hawks today
GBP snaps lower to highlight intra day focus on BoE rhetoric - little from Broadbent either, as there was from Haldana earlier - and from here, we expect the positioning to turn to the UK jobs report tomorrow. Markets are look for ex bonus earnings to rise from 1.7% to 1.9%, while the unemployment rate is set to hold at 4.6%. Some economists are question the wage growth stats, and as the global phenomenon is that of continued 'slack', we sense the market may look to fade any strength into the data tomorrow. EUR/GBP is back at 0.8845-50 levels, but we have see plenty of struggle here over the last 24 hours or so.
GBP snaps lower to highlight intra day focus on BoE rhetoric - little from Broadbent either, as there was from Haldana earlier - and from here, we expect the positioning to turn to the UK jobs report tomorrow. Markets are look for ex bonus earnings to rise from 1.7% to 1.9%, while the unemployment rate is set to hold at 4.6%. Some economists are question the wage growth stats, and as the global phenomenon is that of continued 'slack', we sense the market may look to fade any strength into the data tomorrow. EUR/GBP is back at 0.8845-50 levels, but we have see plenty of struggle here over the last 24 hours or so.