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Aug 15 - 06:55 PM

GBP: Jobs And CPI Dominate This Week; Where To Target? - ING

By eFXdata  —  Aug 15 - 03:00 PM

ING Research discusses GBP outlook this week.

"The Bank of England (BoE) this week receives two important inputs ahead of its next MPC meeting on 15 September. These are the June jobs data tomorrow and the July CPI on Wednesday. Despite some risk of tightness in the jobs market starting to ease, we doubt the data will be enough to shake off market pricing that another 50bp is on the table for September. For reference, money markets price 40bp of tightening in September," SocGen notes. 

"That should mean EUR/GBP is able to hold below Friday's highs near 0.8485/90. Cable, however, looks vulnerable to dollar strength and could quite easily make a return visit to 1.2000," ING adds. 

ING Research/Market Commentary


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