Forex Flash: Recovery is in sight to support GBP - UBS

FXstreet.com (Córdoba) - Following the BoE Inflation Report, Governor Mervyn King started the Inflation Report presentation with "Today's projections are for growth to be a little stronger and inflation a little weaker than we expected three months ago. That is the first time I have been able to say that since before the financial crisis".

In this regard, the UBS analyst team comments that this supports their view that the UK is on a gradual recovery path. "It could also mean that King voted against further asset purchases at last week's policy meeting. The minutes next week will give further insights".