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Money markets see 85% chance of a 25 bps BoE rate cut in May

Money markets are fully pricing a 25 basis point Bank of England (BoE) rate cut in December and see an 85% chance of a May cut, Reuters reported in the last minutes. 

The GBP/USD pair, which came under strong bearish pressure following the disappointing GDP data from the UK, was last seen trading at 1.2970, erasing 0.67% on a daily basis.

The UK's Office for National Statistics (ONS) on Monday reported that the economy contracted by 0.3% on a monthly basis in November and Manufacturing Production declined by 2% on a yearly basis. 

USD/CAD holds steady around mid-1.3000s, eyeing BoC's Business Outlook Survey

The USD/CAD pair extended its sideways consolidative price action on Monday and remained confined well within the previous session's trading range, ar
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Brazil: Eyeing activity reports – Rabobank

Rabobank analysts point out that in recent weeks, Brazilian assets have outperformed, benefitting from a respite in the sell-off of EM assets, but wit
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