BoE policy confusion sending GBP markets on a wild ride - ING

Eren Sengezer FXStreet

Analysts at ING see the GBP/USD neutral for the week ahead, trading in a range between 1.2620 and 1.2820.

Key quotes:

"It has been a bizarre week for BoE watchers, with the confluence of MPC views creating confusions in markets. We tend to side with Governor Carney and think that patience is required when it comes to a rate hike. Leading indicators such as the CBI surveys (Tue) and consumer confidence (Fri) will give us a better idea on whether the UK economy is on a slowing trend."

"Combo of over exuberant hawkish BoE calls and political uncertainty (a Tory-DUP deal has yet to be brokered) may keep GBP on the backfoot."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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