Tension is growing ahead of the all-important Bank of England decision. What’s next for the pound? Here is their view, courtesy of eFXdata: Bank of America Merrill Lynch Research discusses GBP outlook around this week’s BoE August policy meeting on Thursday. “We have sympathy with the view that the MPC wants to build in some insurance in case of a misstep in the Brexit negotiations in 2019 given their previous commitment to avoid zero/negative rates through the GFC. However, 22bps of hikes for August is not attractive from a risk/reward basis and we think GBP will find it difficult to stage a meaningful rally even if the BoE delivers. Seasonal headwinds in August have also historically weighed on GBP/USD over the past 10 years. As we highlight, any impact on GBP from a rate hike is increasingly being offset by rising political risk premium which we think will rise further as markets focus on the EU Summits in October and December,” BofAML argues. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Daily Look share Read Next NZ: Weak economic data releases – TDS FX Street 5 years Tension is growing ahead of the all-important Bank of England decision. What's next for the pound? Here is their view, courtesy of eFXdata: Bank of America Merrill Lynch Research discusses GBP outlook around this week's BoE August policy meeting on Thursday. "We have sympathy with the view that the MPC wants to build in some insurance in case of a misstep in the Brexit negotiations in 2019 given their previous commitment to avoid zero/negative rates through the GFC. However, 22bps of hikes for August is not attractive from a risk/reward basis and we think GBP will find it difficult to… 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.
