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Aug 01 - 06:12 AM
GBP/USD - BoE Policy Dilemma Adds Fuel To The Bear Trend
First appeared on eFXplus on Aug 01 - 04:10 AM
  • FOMC fallout marked but it's Brexit, Johnson and a new cabinet that's key
  • Sterling has lost near 10% vs USD since Mar and near 16% since Apr 2018
  • PM Johnson and his ministers look to be locked on for a no deal exit
  • For BoE this brings a policy dilemma and today's meet could highlight this
  • A rate easing on a no deal Brexit could hammer an already weakened pound
  • Currency fall could fire up fresh inflationary pressures in the UK economy
  • Rtrs poll 9-0 for no change but Brexit uncertainty holds key nL8N24W7T7

GBP/USD Monthly Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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