Merchants step up odds of BOE fee lower for subsequent month

That compares with ~62% odds earlier than we bought the softer UK CPI report right here. Searching to the whole lot of this 12 months, merchants are pricing in ~49 bps of fee cuts in whole. That’s only a slight step down from what was priced in going into the flip of the 12 months.

The pound response hasn’t been too easy although. It misplaced some floor earlier with cable slipping to a low of 1.2155 however dip consumers are making a little bit of a stand with value now rising again as much as 1.2225 presently and testing its 100-hour shifting common of 1.2223.

This text was written by Justin Low at www.ubaidahsan.com.



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