Confidence in the housing market helps consumer spending. That'll be supportive for sterling and it's not going to play too well with the shorter end of the gilt curve.
More Quotes from Jeremy Stretch:
The euro is trying to grind higher but it's still in a range. The tone of a post-decision press conference will be important.Jeremy Stretch
There's a growing perception that 4.5 percent is not going to be the peak in the current cycle.
Jeremy Stretch
The market is getting bulled up on the China angle once again and dollaryen has followed that,
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At the same time we had Greenspan reinforcing that the U.S. growth backdrop and rate outlook are positive for the dollar.
Jeremy Stretch
People are looking ahead to the CPI data tomorrow that I think will probably continue the presumption that the Fed has still got a little way to go with hiking.
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It's not surprising we have seen a sizeable hit in the euro. There was a reasonable perception it would be a close-run election and everybody's worst case scenario has come to pass,
Jeremy Stretch
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