GBP/USD: 1.30 may not be an insurmountable obstacle if BoE raises guidance – SocGen GBPUSD BOE InterestRate Inflation Banks
A pulsating week lies ahead for the Pound. Economists at Société Générale analyze GBPTechnically, the Pound is stretched after the impressive gains of last week but 1.30 may not be an insurmountable obstacle if the BoE flags additional tightening this summer and risk sentiment does not falter. This means bank rate could leapfrog the fed funds rate in the US.
Crucially, CPI for May will be published on Wednesday, one day before the BoE rate decision. We forecast +25 bps this week and +25 bps to 5.0% in August.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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