BoE expected to be a ‘non-event’ – Danske Bank

Jens Sorensen, Senior Analyst at Danske Bank, believes today’s BoE event to pass unnoticed in the FX space.

Key Quotes

“The BoE gathering set to be somewhat uneventful being a ‘small meeting’, but the probability of an August hike is shrinking”.

“We still think risks in EUR/GBP are tilted to the upside near term, partly due to BoE being on hold and due to political uncertainty flaring up again; we still look to sell the cross on rallies above 0.8850”.