Mobile Telecoms Sale To Weaken UK Pound As BoE Buys Back Debt
MARKET VOICE
Chris Furness, currency strategist at 4CAST says that the £20bn+ buying of UK mobile phone licences--be the buyers foreign or domestic--will not be sterling positive at all.
Recent press reports have suggested that the UK government bond market is bracing itself for a cancellation of Gilt auctions as they watch the latest round of bids for the next generation of mobile telephone licences.
We do not go all the way with this, but believe that the government will reduce debt and at the same time
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