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GBPUSD Analysis: April Highs Set a Weekly Ceiling
Latest statements from Governor Andrew Bailey reflected the bullish potential of the UK economy, as he claimed that markets have not yet priced in the full impact of the coming rate cuts below the 16-year highs. The optimism of the BOE will be confirmed by the consumer price inflation results on Wednesday if the metrics revealed a 3-month downtrend streak. From an investment perspective, the latest BOE release highlighted an underperformance in productivity growth and business investment. In terms of the Purchasing Manager’s Index, the previous flash manufacturing PMI fell below expansion levels with the latest ... (full story)