Flash: caution with GBP longs - RBS

FXstreet.com (Barcelona) - As Greg Gibbs, FX Strategist at RBS, notes,there are several competing developments and events that need monitoring during summer markets.

Key Quotes

"In summer markets, prone to swings on thin volumes, it may pay to keep powder dry for clearer evidence of opportunities. UK employment data and BoE minutes tonight will be watched carefully."

"The weaker than expected UK CPI data overnight suggests caution with GBP longs."