GBP/USD Outlook April 10th 2014 (BOE Decision)


The BOE is expected to hold rates unchanged today at 0.50% and keep the asset purchase target unchanged at 375B GBP. Any change from this would see a dramatic reaction in GBP/USD and other GBP pairs. The GBP has rallied the last view days vs the USD but should find little reason to continue higher unless the BOE is more positive on the outlook for the UK economy and hawkish in rate hike forecast. The fact that the FOMC is little changed in their outlook for the US economy gives the case for a bearish GBP/USD reaction if there is no change in commentary from the BOE.

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