Viraj Patel, Foreign Exchange Strategist at ING, suggests that 'Time for BoE to take charge' was heir narrative for the September meeting and take charge they did.
“A 'withdrawal of stimulus' may only offer GBP a one-time boost, with the narrative quickly shifting back to Brexit over the coming weeks. We remain content with our forecasts for EUR/GBP at 0.90 and GBP/USD at 1.33 by end-2017, but see risks of pencilling in additional GBP strength were we to see progressive steps towards a Brexit transitional deal over the coming months.”
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