BTMU FX Strategy Research expects that there will be no change from the BoE August policy meeting on Thursday but argues that the direction of recent UK data flow is clearly pointing to a greater probability of a rate hike at the next QIR MPC meeting in November.
On GBP front, BTMU notes that sterling is trading near levels not seen since 16th September last year before PM May’s ‘Hard’ Brexit speech at the Tory Party Conference on 2nd October.
“We still see upside risks for the pound over the near-term,” BTMU adds.
Source: BTMU Research
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