On Thursday at 12:00 GMT, the Bank of England rate decision will be announced.
While the central bank is expected to maintain its current policy of low rates for the time being, we may see the committee start to discuss a tentative exit strategy as the fundamental outlook for the UK improves. This could present a potential buying opportunity.
"We would need to hear a more hawkish tone from the BoE to pave the way for a long British Pound trade," according to currency analyst David Song.
He provides details on how to trade this event in his article on DailyFX.com.
While the central bank is expected to maintain its current policy of low rates for the time being, we may see the committee start to discuss a tentative exit strategy as the fundamental outlook for the UK improves. This could present a potential buying opportunity.
Potential Price Targets For The Rate Decision
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"We would need to hear a more hawkish tone from the BoE to pave the way for a long British Pound trade," according to currency analyst David Song.
He provides details on how to trade this event in his article on DailyFX.com.