Playlist: GBPEUR

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Dollar selloff and BoE tomorrow — #SaxoStrats
John J Hardy
02 August 2017 at 14:14 GMT
Collins: Sterling and a tale of two pairs
20 January 2016 at 7:06 GMT
Pope: How I'm trading GBP amid rate rise chatter
Stephen Pope
22 July 2015 at 11:29 GMT
Beecroft: Why I'm optimistic about UK Plc
Nick Beecroft
13 May 2015 at 13:18 GMT
Brooks on Sterling: Why GBP could go either way
Owen Thomas
08 May 2015 at 11:48 GMT
Beecroft: Sterling on for a pre-election budget bounce
Nick Beecroft
13 March 2015 at 10:02 GMT
Beecroft: Is now the time to buy GBP?
Nick Beecroft
08 January 2015 at 14:59 GMT
Beecroft: Why I’m sticking to sterling
Nick Beecroft
20 November 2014 at 7:19 GMT
Beecroft: Why I'm buying the pound and selling the euro
Nick Beecroft
24 October 2014 at 14:39 GMT
Beecroft: Bank of England has spring in its step
Nick Beecroft
08 October 2014 at 12:17 GMT
Sterling: What you need to know this week
Alex Forrest Whiting
08 September 2014 at 9:51 GMT
Video / 19 November 2014 at 15:09 GMT

Beecroft: Why I’m sticking to sterling

Nick Beecroft
The Bank of England’s Monetary Policy Committee is yet again divided on the risks facing the UK economy. Minutes published on Wednesday show members voted again 7 to 2 to keep interest rates on hold at 0.5%. But according to Nick Beecroft, the Chairman of Saxo Capital Markets, the minutes show there was much more uncertainty and division over the economic outlook and in particular inflation.

Beecroft believes the MPC is closer to tightening monetary policy. That's why, he says, Sterling rose slightly against both the Dollar and the Euro. He acknowledges that GBP had a 'blip down' following last week's inflation report. However he remains bullish and is long GBPEUR.

Later on Wednesday, the FOMC publishes its October minutes. Nick expects them to be more dovish than the post-meeting statement. He says the dollar could slightly dip but he thinks that's a good time to buy as the greenback looks strong against other currencies.


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