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Sterling higher in the morning part of Friday's session

Friday, Feb 13 2015
There is no major data releases from the UK today. Sterling is currently being traded around 1.5430 area, still supported by yesterday's BoE Inflation Report, in which it was stated that UK is far from deflation despite current downtrend in inflation, with emphasis on belief on further economic growth, and weaker than forecasted US Retail Sales data.
 
Sir John Cunliffe, BOE department governor speaking on BBC radio's 5 Live said that UK is in a better position if Greece were to exit the Eurozone. He said that BOE has many contingency plans, but that he won't comment this matter further. In BoE's opinion UK productivity is starting to pick up and therefore BOE is not seeing conditions as the moment to justify rate cut or QE, but he repeated yesterday's governor Carney's stanzas on rate cut.
 
Pair is likely to find support around 1.5380 level and resistance near 1.55 handle. Later today, in the US session, Consumer Sentiment figures are scheduled for a release.
More in this category: « French GDP rose in line with market forecasts German GDP grew by 0.7% in Q4 »

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