With UK interest rates poised to head higher today, the view from some analysts is that the pound will only move in the opposite direction when the decision is announced at noon local time. Their argument: that no matter what the extent of Bank of England tightening, the central bank will step back from flagging the need for further big rate rises in the coming months, causing markets to pare back expectations for hefty lifts in the future. “The bar for markets to be surprised on the hawkish side is so high that it’s not going to be met in any circumstance,” said Simon Harvey, head of foreign-exchange analysis at ... (full story)