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GBP: Edges Higher, But Rallies Capped by Earlier High

GBP
CEEMEABulletUKGlobalForeign Exchange BulletsRegionMarkets
  • GBP/USD edging higher in the initial response to the rate decision, adding ~30 pips, but stopping well short of any test on the earlier overnight highs of 1.2947.
  • Uptick in inflation forecasts may be driving the modest GBP gains, although markets still maintain a not-insignificant chance of a further move in December.
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  • GBP/USD edging higher in the initial response to the rate decision, adding ~30 pips, but stopping well short of any test on the earlier overnight highs of 1.2947.
  • Uptick in inflation forecasts may be driving the modest GBP gains, although markets still maintain a not-insignificant chance of a further move in December.