GBPUSD - Poised for further gains
GBP closed approximately at a previous week's high and just under 1.3300.
The UK June PMI surveys all surprised on the upside last week relative to market expectations, while BoE Governor Carney
sounded more upbeat about the economy in a speech in Newcastle. Markets now attach around 80% probability of an August rate rise
and GBP remains rather robust against the USD (which is receiving negative vibes off the NFP report).
We like the odds of further gains this week.
The UK June PMI surveys all surprised on the upside last week relative to market expectations, while BoE Governor Carney
sounded more upbeat about the economy in a speech in Newcastle. Markets now attach around 80% probability of an August rate rise
and GBP remains rather robust against the USD (which is receiving negative vibes off the NFP report).
We like the odds of further gains this week.
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