It is not surprising to see the Pound into fresh new lows for the move this morning, in the wake of suggestions from the BOE that it wasn’t time to hike interest rates. In fact, with UK house price measures overnight reaching a fresh 11 month low, the downward bias remains in the Pound remains in place. Countervailing the downward motion on the Pound charts is a surprise improvement in Irish November retail sales, higher equities and minimal gains in crude oil prices.
