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GBP/USD: Pound Pops as the BoE Goes Hawkish; Look to the Crosses
At this morning’s Bank of England Super Thursday event, many were looking for the bank to begin moving to a more hawkish stance as rising inflation in the UK continues well-above the bank’s 2% target. And while the BoE would likely want to take a passive approach, instead hoping that the recent strength in the currency helps to soften those rising prices, there’s little evidence of inflation slowing down and this will likely compel them into action later this year. This showed up this morning when the BoE shifted expectations towards two rate hikes this year from the previous expectation of one. The bank also ... (full story)
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