<p>Barclays Research discusses GBP outlook sees a scope for GBP to remain supported into next week’s BoE policy meeting.</p><p>”With the core of the MPC increasingly focused on wage growth and domestic inflation, the BOE is on track for a 50bp hike on 2 February and a hiking cycle that should end up close to market pricing. Accordingly, sterling-supportive near-term hawkish risks seem to have opened up for the first time in a while,” Barclays notes. </p><p>”Overall, a fairly uniform ToT shock, similarly paced policy
tightening, and broadly neutral valuations per our analysis suggest that
EURGBP will remain range-bound around our medium-term forecast of
0.87,” Barclays adds.</p><p>
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This article was written by Adam Button at www.forexlive.com.
