SaxoTV

Why cable has much further to fall

888 views
February 17, 2015 bank, bank of england, bank of england governor, beecroft, biz, boe, boe minutes, britain, britain economy, business, cable, content, cpi, cpi inflation, deflation, deflation europe, england, euro, eurozone, exchange rate, exchange rates, finance, finance news, foreign exchange, forex, forex strategy, forex trading, fx, fx strategy, fx trading, gbp, gbp usd, gbpusd, inflation, inflation target, interest rate, interest rates, low inflation, macro, mark carney, news, news content, news video, nick beecroft, qe, quantitative easing, record low, saxo, saxo capital markets, saxo capital markets beecroft, saxo tv, stimulus, trading, tradingfloor.com, tv, tv content, uk, uk deflation, uk easing, uk economy, uk eonomy, uk inflation, uk rates, united kingdom, usdgbp, video content
With UK inflation falling to a record low, GBPUSD also has much further to fall. That's according to Nick Beecroft, the Chairman of Saxo Capital Markets. He predicts cable will drop to sub 1.40 by the middle of the year.
The Bank of England has admitted that inflation could be zero or even lower in the coming months and Nick discounts the Governor's view that the rate will soon recover closer to the central bank's target. Nick says we won't see interest rate rises until the middle of 2016 and before that, negative rates and more QE are certainly not out of the question.