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May 03 - 09:48 AM
GBP/USD: 'Enough Pounding'; Some Negatives Already In Price - Credit Agricole
First appeared on eFXplus on May 03 - 08:30 AM

Credit Agricole CIB Research discusses GBP/USD outlook and flags a scope for some GBP rebound in the near-term.

"Following the recent GBP selloff, we believe that some negatives are already in the price of the currency going into the May inflation report that the BoE will publish next week.

We think that the report will keep the markets betting on further monetary normalisation in the UK later this year.

To the extent that it encourages frontloading of rate hike expectations, GBP could regain some lost ground across the board, CACIB argues. 

Source:
Crédit Agricole Research/Market Commentary

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