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MUFG analysts warned against chasing sterling higher ahead of the Bank of England policy meeting, noting GBP/USD had become heavily overbought. They expect the BoE to hold rates but signal further easing, possibly more QE or negative rates, later in the year.
Expected BoE easing and an overbought pound raise the risk of a pullback in GBP/USD, which matters for UK-linked import costs and sterling-denominated feed pricing.
octaafrica.netJul 31, 2020Not 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.
