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- EUR/GBP may have hit its low for the cycle now – SocGen
EUR/GBP may have hit its low for the cycle now – SocGen
Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes GBP after UK CPI data and ahead of tomorrow's Bank of England (BoE) Interest Rate Decision.
Risk of a 50 bps rate hike tomorrow has increased
Sterling, has not been helped by this morning’s (high) CPI data.
The risk of a 50 basis points rate hike tomorrow has increased, and the risk of a deeper slowdown has increased even more.
The EUR/GBP pair may have hit its low for the cycle now.
See: Sterling has limited upside potential on more data surprises – ING
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