Special report: Sterling Upside Limited Even If BOE Holds
Most of the spotlight in today's trade will be on the upcoming Bank of England policy decision. In the aftermath of the Brexit vote, BOE Governor Carney was quick to flag the likelihood for additional easing this summer in an effort to combat fallout from downside risks to the UK economy associated with an EU exit.
Next 24 hours: The BOE’s Anticipated Surprise
The big news on the day was the Bank of England decision to leave policy on hold. In Thursday's BOE preview, we outlined the rationale behind an unchanged decision and were pleased to see the result, particularly after most of the market had been looking for a 25 basis point cut. Key data on Friday out of China and the US.