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GBP/USD: holds short-term negative perspective - Scotiabank

FXStreet (Córdoba) - Camilla Sutton, analyst at Scotiabank notes that the GBP/USD holds short-term bearish perspective, although she warns uncertainty over the GBP outlook is building.

Key Quotes

“GBP is essentially flat as the BoE left all policy measures on hold, with interest rates at 0.5%. Next week’s Inflation Report (August 13th) will provide clarity on how the BoE’s views are unfolding and is a major hurdle for GBP, followed by the release of today’s minutes on August 20th”.

“GBP/USD short‐term technicals: bearish ‐ however the test down to 1.6786 that we expected is proving a challenge with the European session warning of building uncertainty over the outlook for GBP”.

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USD/JPY retreats and approaches 102.00

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