Soft UK GDP Could Prompt Dovish BoE Repricing: BBH
BBH's Elias Haddad warns that a disappointing UK GDP print could fuel dovish Bank of England expectations, adding pressure on the British pound.
GBPUSD
Elias Haddad of Brown Brothers Harriman cautioned that the British pound needs a stronger-than-expected GDP figure to find upside momentum.
If the upcoming data release falls short, it could lead to a dovish repricing of Bank of England rate expectations. That would likely weigh on the currency.
The pound’s near-term direction thus hinges on the health of the UK economy as traders reassess the BoE’s policy path.
Source: FXStreet Forex News