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HSBC strategists suggested clients consider selling GBP/USD ahead of the Bank of England decision, doubting the recent sterling rally will hold. Overnight index swap rates implied about a 68% chance of a 50 basis point hike.
The strategists expect a possible setback if the BoE sticks to 25 basis points.
A bank call to sell sterling points to a possible dip in the pound against the dollar, a currency move that has only indirect effects on feed input costs.
poundsterlinglive.comJames SkinnerJul 29, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
