GBP/USD to tick down if UK CPI miss reduces odds of BoE hikes – OCBC

Market news

21 October 2021

GBP/USD to tick down if UK CPI miss reduces odds of BoE hikes – OCBC

Bank of England’s (BoE) expectations (as seen through SONIA futures) and the GBP took a dip after the miss in UK CPI on Wednesday. GBP/USD may move downward if this view persist, economists at OCBC Bank report.

1.3850 to cap the cable

“The GBP may struggle should the UK CPI miss turn into a catalyst for the market to turn more sane over expected BoE rate hikes.”

“1.3850 should cap the GBP/USD for now.”

“First downside targets at 1.3700/10.”

United Kingdom: Gfk Consumer Confidence, October -17 (forecast -16)

Commodities. Daily history for Wednesday, October 20, 2021

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