Following the 75 pips swings to both sides first to weekly lows 1.5027 yesterday followed by weekly highs at 1.5187, Cable is at the same point is was last Friday by the closing bell around the 1.5117 last, unchanged for the whole week so far.
According to BK Asset Management director Kathy Lien: “The Bank of England did not grow more dovish in the face of weakening economic data,” the analyst notes, while “Instead, they expressed concerns about unwanted depreciation of their currency and the impact that it could have on inflationary pressures.”
