GBP/USD: BoE Likely To Disappoint The Hawks On Thursday – Barclays

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The pound has rocked and rolled alongside stock markets and the corresponding ebb and flow in the US dollar. And now, the focus shifts to the BOE:

Here is their view, courtesy of eFXnews:

Barclays Research discusses GBP outlook into the BoE policy meeting on Thursday and thinks that a wait-and-see message from the BoE is likely to disappoint the hawks and weigh on GBP.

Focus will centre on the minutes to help gauge the degree of hawkishness within the MPC,along with the updated economic forecasts, where the inflation effect of higher oil prices should be offset by recent currency strength…

We still expect the next rate hike to occur in November, with some chance of August, a dovish call relative to market pricing that implies an ~80% chance of a hike in August and 35bp of hikes this year,” Barclays projects.

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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 the 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.

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