- Analytics
- News and Tools
- Market News
- GBP/USD: Bias lower in 1.26-1.22 range; BoE a non-event this week - BofA
GBP/USD: Bias lower in 1.26-1.22 range; BoE a non-event this week - BofA
eFXdata reports that Bank of America Global Research discusses its expectations for this week's BoE policy meeting on Thursday.
"The BoE does not have to announce policy changes at Thursday's policy meeting as £200bn QE package will not exhaust until July...But with likely downbeat forecasts, we expect cut to QE purchase pace and total purchases to be made 'open ended'," BofA notes.
"We expect this week's meeting to be largely a non-event, though a rearranged time for the meeting (7am London time) has raised some expectation for further measures. As detailed above, the BoE will need to address the roadmap for future asset purchases. What is not in doubt, however, is that any announcement from the BoE will be one of liquidity enhancement, which, in our view, will likely keep the pressure on GBP during a month where seasonal factors (poor US macro data weighing on global risk) will pressure GBP lower. We continue to think that GBP/USD is biased towards the lower end of the recent 1.26/1.22 trading range," BofA adds.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
