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GBP Sell-Off Abates Through London Close

GBP
  • Weakness across GBP/USD abates through the London close as the pair stabilises off 1.2180 - thereby keeping prices clear of any major test of the Monday low at 1.2167.
  • Having traded well for much of the European morning, GBP is now softer against most others in G10 despite more stability across market implied pricing for this Thursday's BoE decision - although it remains an almost 50/50 probability for a 25bps step or unchanged.
  • Our full BoE preview found here: https://roar-assets-auto.rbl.ms/files/52120/MNI%20...

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