BOE’s King: Increase in sterling effective exchange rate since mid 2011 is not a welcome development
Everyone wants a weaker currency. Reflective of the times we’re living in.
Cable down around session low, presently 1.5858. 200 dma at 1.5851. It’s what I call the moment of truth….
- BOE pursuing an “extraordinarily high” degree of monetary stimulus
- Not fair to say BOE policy toolbox empty, constraint from fact economy has to readjust
- UK economy needs more demand from rest of world to buy UK exports (good luck with that one sport)