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BoE is stuck between a rock and a hard place – Yohay Elam

The UK economy has been suffering of late as the larger-than-expected drop in Q4 GDP as well as other unfavorable data show. Yohay Elam, Analyst at Forex Crunch, suggests that the BoE should remain on hold in February, with a slight possibility of a further QE expansion.

According to the analyst: “The recent drop in the pound reflects the weakness, but isn't enough to allow exporters to benefit in a significant manner. On the other hand, the weaker pound could push prices of imported goods higher, while inflation is still too high. All in all, the BOE is stuck between a rock and a hard place.”

Forex: EUR/CHF erases gains and turns lower, eyes on 1.2300 The rally seen in early European morning, up to 1.2369 high, was completely erased just ahead of the NY session, putting the EUR/CHF under p

The rally seen in early European morning, up to 1.2369 high, was completely erased just ahead of the NY session, putting the EUR/CHF under pressure and approaching the 1.2300 mark. At the time of writing, the cross has gone down as low as 1.2308 (-0.20% on the day).
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