UK’s Dale on the wires

Written March 12, 2010 at 6:21 AM EST by  

Bank of England’s Chief Economist Spencer Dale had this to say on the current situation in the UK;

*Pause does not necessarily mean loosening at an end

*BoE can withdraw stimulus at any time, in any order

*BoE ready to make more purchases if needed

This commentary seems bearish for the pound and market did act accordingly knocking Gbp/Usd down 30 points to 1.5135. The pair has since regained its losses and currently trades at 1.5163.

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