Morning Meeting: Bears Seek Shelter From Pound

The video discusses the current trends in the Sterling market, focusing on the high bearish bets and recent strengthening. Richard Cocinas from City provides insights into short covering and the potential impacts of Brexit. The Bank of England's monetary policy, including rate cuts and QE, is analyzed, with expectations of further actions. The softer dollar's influence on Sterling is also explored, along with future economic predictions and questions for Governor Carney.

What recent trend has been observed in the Sterling market?

• Sterling has weakened, increasing bearish bets.

• Sterling has reached an all-time low.

• Sterling has strengthened, leading to the exit of short-term bearish bets.

• Sterling has remained stable with no significant changes.

What actions has the Bank of England taken in response to Brexit?

• Focused solely on inflation control.

• Increased interest rates and reduced QE.

• Cut rates, boosted QE, and introduced a corporate debt buying program.

• Maintained current rates and policies.

What is the Bank of England's current approach to economic data?

• Focusing only on positive economic indicators.

• Immediate reaction to any data changes.

• Ignoring economic data until next year.

• A wait-and-see approach to assess economic impacts.

How does a softer dollar impact Sterling positions?

• It leads to an increase in Sterling's value.

• It has no impact on Sterling positions.

• It puts pressure on short Sterling positions.

• It strengthens the dollar positions against Sterling.

What is the Federal Reserve's stance on reacting to economic data?

• They react immediately to any data changes.

• They focus only on international data.

• They are cautious and avoid overreacting to individual data points.

• They ignore economic data entirely.