The British Pound has come under pressure against the Euro in May as investors bet Thursday's European Central Bank (ECB) interest rate decision and guidance will see it maintain its crown as the most hawkish of the major central banks. Money market pricing shows investors are poised for 30 basis points of hikes at the ECB, which in effect means the market is split on whether it will deliver a 25 basis point move or 50bp. The former could result in knee-jerk Euro weakness, the latter in Euro strength. "Markets still under-price the risks of a 50bps hike," says James Rossiter, Head of Global Macro Strategy at TD ... (full story)