Senior Analyst at Danske Bank Morten Helt sees the Bank of England raising its key rate next month despite poor UK CPI results seen yesterday. Key Quotes “In the FX majors, EUR/GBP has reached new highs following yesterday’s disappointing inflation release and EUR/GBP bounced above 0.89 while GBP/USD temporarily broke below the key support level at 1.3050″. “While the lower-than-expected inflation in the UK on the margin reduces the probability of a rate hike August, it remains our base case that the Bank of England will raise the Bank Rate by 25bp on 2 August”. “Market pricing of an August hike declined 2bp to 19bp yesterday. Given the already high pricing of an August rate hike and the risk of continued political uncertainty in the UK related to Brexit, we prefer staying side-lined in the cross for now”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: after the first attempt failed, falling under 1.30 may be harder Yohay Elam 5 years Senior Analyst at Danske Bank Morten Helt sees the Bank of England raising its key rate next month despite poor UK CPI results seen yesterday. Key Quotes "In the FX majors, EUR/GBP has reached new highs following yesterday's disappointing inflation release and EUR/GBP bounced above 0.89 while GBP/USD temporarily broke below the key support level at 1.3050". "While the lower-than-expected inflation in the UK on the margin reduces the probability of a rate hike August, it remains our base case that the Bank of England will raise the Bank Rate by 25bp on 2 August". "Market pricing of an August… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
