Jamie Saettele Commentary
British Pound To Overlook Rate Decision, Rebound To Accelerate
The Bank of England is scheduled to hold its interest rate decision in the week ahead, but market participants may show a fairly muted reaction to the policy meeting as the central bank is widely expected to maintain its current policy stance in September. Currency Intervention, PM Election Takes Center Stage
The Japanese yen lost ground after advancing to a fresh record-high during the previous week, and the low-yielding currency may weaken further as policy maker step up their efforts to stem the marked appreciation in the exchange rate. Bank Of England Inflation Report Puts GBP/USD Range At Risk
British pound traders will certainly turn their attention to the Bank of England quarter inflation report on tap for the following week, and the central bank’s assessment of the economy should heavily influence the sterling as the MPC maintains a wait-and-see approach for monetary policy. British Pound Direction Contingent On Bank Of England Minutes
The British pound found strong support in the latter half of the week, after declining immensely on Monday, and nearly dropping another 200-pips on Tuesday, on a worse-than-expected price data print which indicated that inflationary pressures were easing.
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