UK MARKETS: dovish BoE takeaways

Gilts and Short Sterling futures have responded as one would expect in light of the unanimous MPC rate decision and minutes from the meeting that will not change perceptions that the next BoE hike is highly unlikely to arrive any time soon. The 10 year benchmark has just crossed the 125.00 marker to the upside and posted a fresh 125.18 Liffe intraday high (+31 ticks vs -15 ticks at worst), while the 3 month strip is now 0.5-3 ticks ahead vs 2 ticks below par after the earlier firmer than forecast retail sales data. Conversely, Cable is softer around 1.3425 and Eur/Gbp back over 0.8800 and a key chart pivot around 0.8805.  Next up, ECB policy verdict (also seen unchanged) and Draghi presser.

14 Dec 2017 - 12:27- - Source: ransquawk

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