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Big day for the pound today as the BOE conclude its first meeting post Brexit. Many expect them to cut the official cash rate by 0.25% and perhaps add some QE. That would likely resume the downtrend in the pair.
A surprise decision to stand pat would most probably be accompanied by a strong hint on action in August. The pair would rally on further short covering but the upside would be limited.
A surprise decision to stand pat would most probably be accompanied by a strong hint on action in August. The pair would rally on further short covering but the upside would be limited.
