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Tug of war- Growth versus Inflation

GBP
  • The British Pound is seeing some selling, but we trade well within yesterday's ranges.
  • Good demand was seen yesterday in EURGBP at the 0.8400 mark.
  • Desk favoured fading at these prices.
  • A real tug of war for the UK, with the continued hawkish rhetoric from BoE Bailey, and desk still debating if he will vote for a Hike at the next meeting?
  • Although still evenly split, it would come as no surprise.
  • While supply chain and Covid case resurgence is bound to hit growth in the near term.
  • Small resistance in EURGBP moves down to the 0.8443 area.
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