It will crash down today.
How the BoE inflation report will move sterling
The British pound had a sterling performance over the past year, but could it lose some of its shine following the Bank of England's (BoE) inflation report? Investors will be listening to BoE Governor Mark Carney closely today for any indications of an interest rate hike this year against a backdrop of a strengthening British economy. Jobs data for April, also due today, could drive sterling's performance too. "For the next 24 hours, everyone's focus will shift to the British pound because the Bank of England's Quarterly Inflation Report is the most important event risk this week," said Kathy Lien, managing director ... (full story)