- The better-than-expected UK inflation data likely reinforced market expectation for a 50bp Bank of England (BoE) hike for August.
- Lackluster UK growth could limit BoE ability to tighten materially ahead – to the detriment of the GBP.
- We target GBPUSD at 1.17 in 1-3 months’ time
- Lackluster UK growth could limit BoE ability to tighten materially ahead – to the detriment of the GBP.
- We target GBPUSD at 1.17 in 1-3 months’ time
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