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GBP
Despite very little in the data calendar, yesterday still managed to provide something to watch for markets, with comments from the Bank of England’s Ben Broadbent and Huw Pill hitting the airwaves. The lesser heard Broadbent, speaking at the University of Cambridge at an event hosted by the National Institute of Economic and Social Research, played his cards close to his chest, as expected. His remarks did appear to lean in a slightly hawkish direction, suggesting a bias towards a hike…
FX Forecasts
Uncertainty over central bank’s reaction functions remained elevated in April as concerns over financial stability and the level of deterioration in credit conditions persisted. This resulted in lower FX volatility and reduced conviction amongst both traders and analysts across most major pairs. It is in this context that we continue to look for an extension in the dollar’s decline as we expect the Fed to draw a halt to its hiking cycle, but the path lower is unlikely to be smooth as market…
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