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Options markets are expecting a volatile...>

STERLING
STERLING: Options markets are expecting a volatile day for the pound: GBP/USD
1-week implied volatility remains close to multi-month highs and 1-month vols
traded at the highest in a year on Tuesday. Earlier this week, MNI PINCH
calculated that markets now see a 52.5% chance of a 25bp rate hike at the May
2018 MPC meeting, down from 60.5% seen on Friday last week, but still up from
the beginning of this year. There is also still a very good chance of the next
rate hike coming at August MPC meeting with odds of 81% compared to 90%.

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