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21 May 2013
Flash: BoE minutes set to be released tomorrow - BBH
FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that the minutes from the BOE's meeting earlier this month will be released tomorrow.
They add that there had been some thought that the relative strength of the recent data and the desire not to pre-commit Carney could have prompted one of the three dissenters (which includes Governor King) may have defected. Further, they comment that although the MPC did not know today's data when it made its decision, some observers now play down this possibility. They write, “Sterling declined nearly a cent on the news, which has left the short-term technical indicators a bit stretched. Good bids have been seen in the last three sessions near the $1.5165 area. Immediate resistance is pegged near $1.5220.”
They add that there had been some thought that the relative strength of the recent data and the desire not to pre-commit Carney could have prompted one of the three dissenters (which includes Governor King) may have defected. Further, they comment that although the MPC did not know today's data when it made its decision, some observers now play down this possibility. They write, “Sterling declined nearly a cent on the news, which has left the short-term technical indicators a bit stretched. Good bids have been seen in the last three sessions near the $1.5165 area. Immediate resistance is pegged near $1.5220.”