GBP: Vote split endorses August BoE cut – ING
Source Fxstreet
The Pound Sterling (GBP) was only lightly touched by a consensus Bank of England hold on Thursday, ING's FX analyst Francesco Pesole notes
EUR/GBP to remain bullish in the coming months
"The lack of new guidance has been the norm in the latest BoE meetings, and the vote split tends to be one of the very few metrics of hawkish-dovish tendencies. Yesterday's 6-3 vote split for a cut can be interpreted marginally on the dovish side and is allowing markets to reinforce their conviction call on an August cut."
"We only expect two cuts this year two cuts this year, but markets may be tempted on the dovish side by soft UK data, and we remain generally bullish in EUR/GBP in our multi-month view."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Despite signs of improving momentum, with RSI climbing and EMA lines hinting at a potential breakout, ETH continues to lag behind competitors like Solana in multiple metrics.
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is retracing its recent gains and trading around 98.70 during the Asian hours on Wednesday.
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Thursday and recovers a part of the previous day's losses to the $3,363-3,362 area, or the weekly trough.
Related Instrument
