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Pound Traders Awaiting BOE Rate Cut Brace for Kneejerk Reaction

Posted by Chris Advincula on Aug 4, 2016 6:57:36 AM

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(Aug 4 Bloomberg) *Overnight implied vol approaches highest since Brexit vote *Swaps pricing shows 100% chance of interest rate cut

Pound traders are gearing up for a day of drama.

A measure of overnight potential price swings for the U.K. currency against the dollar approached the highest closing level since Britain voted to leave the European Union in June as traders braced for the Bank of England's policy decision Thursday, which most economists forecast will bring the first interest rate cut in seven years.

Click on the link below to see the full story from Bloomberg: (by Achalee Worrachate and John Ainger)

Pound Traders Awaiting BOE Rate Cut Brace for Kneejerk Reaction

 

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Topics: GBPUSD, Forex Market, BOE Monetary Policy, Monetary Policy, BREXIT

 

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