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British Pound: BoE tightening expectations questioned – BBH

Reported · Written up by our desk · Major Pairs

Elias Haddad at Brown Brothers Harriman notes GBP/USD is weaker on broad Dollar strength, even as UK PMI beats and supports expectations for a 25 bps BOE hike to 4.00% in November. He argues the swaps market is overpricing future tightening, citing below-capacity growth, weak real wages, a near-neutral policy rate and likely fiscal restraint as headwinds for the Pound.

Latest closeGBP/USD 1.337 ▼0.2%

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