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GBP trading soft on BoE sentiment - Scotiabank

FXStreet (Barcelona) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that GBP is soft, reacting to the release of the BoE minutes; where a hawkish 7‐2 vote was offset by dovish details.

Key Quotes:

“The BoE highlighted the impact of a strong GBP on both exports and inflation; however the core weight for GBP was that inflation pressures were absent, with falling inflation expectations and a drop in unit lab costs”.

“The expectations for a BoE interest rate hike has been pushed out."

NOK/SEK should rise amid diverging monetary policies

The UBS analyst team recommends a new long NOK, short SEK trade, as they believe the NOK should begin to stabilize after the strong fall on the back of falling Brent oil prices and amid diverging monetary policies.
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EUR to trade on the weak side - Westpac

Richard Franulovich, analyst at Westpac Banking Corporation ABN explained that despite a strong case for Fed patience, EUR is likely to trade on the weak side.
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