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Markets await BoE inflation report - Scotiabank

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank notes that the pound remain in recent ranges post BoE.

Key Quotes:

"GBP is essentially flat as the BoE left all policy measures on hold, with interest rates at 0.5%. Next week’s Inflation Report (August 13th) will provide clarity on how the BoE’s views are unfolding and is a major hurdle for GBP, followed by the release of today’s minutes on August 20th."

"GBP/USD short‐term technicals: bearish ‐ however the test down to 1.6786 that we expected is proving a challenge with the European session warning of building uncertainty over the outlook for GBP."

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FX Strategists at the Bank of Tokyo Mitsubishi UFJ noted that the ECB President Draghi’s monthly monetary policy press conference following the ECB meeting and explained there were no major changes to the statement or in the Q&A session that followed.
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