GBP/USD: Break below 1.0905 to set up a test of 1.0540 – BBH GBPUSD Banks BOE
“A break below 1.0905 would set up a test of the September 28 low near 1.0540.”will now buy inflation-linked debt in order to maintain orderly markets. It said it would buy up to GBP10 bln of gilts daily until its emergency program ends, double the GBP5 bln in place. Can the new measures prevent another gilt crash? Only time will tell but we note that whatever measures the BoE takes, it can only address the symptoms and not the underlying malady . Only the government can turn this thing around.
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