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Jens Sorensen, Senior Analyst at Danske Bank, believes today’s BoE event to pass unnoticed in the FX space.

Key Quotes

“The BoE gathering set to be somewhat uneventful being a ‘small meeting’, but the probability of an August hike is shrinking”.

“We still think risks in EUR/GBP are tilted to the upside near term, partly due to BoE being on hold and due to political uncertainty flaring up again; we still look to sell the cross on rallies above 0.8850″.