Excerpt from: Financial Spread Betting Strategies
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| January 24, 2007 | | Comments by Mervyn King can affect spread bets | When formulating your financial spread betting strategy, whether for the U.K. pound, or for interest rate performance, or other financial instruments, it helps to pay attention to Mervyn King, the governor of the Bank of England. His comments can shed light on possible moves in the financial markets, helping you decide how to place your spread bets. Reuters reports:
Sterling, meanwhile, fell further from the previous
session's 14-year peaks against the yen and dollar after minutes
of the Bank of England's latest meeting showed a sharp 5-4 split
in favour of this month's surprise UK rate rise to 5.25 percent,
compared with expectations of a 7-2 vote. This followed downbeat comments late on Tuesday by BoE
Governor Mervyn King. "The remarks by King yesterday were considered slightly
dovish. That and the Australian CPI triggered some profit-taking
in yen short positions," said Armin Mekelburg, currency
strategist at Unicredit (HVB) in Munich. | | |
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