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Strategy Video: GBPUSD, Pound Traders Ready for Volatility After BoE Report

Strategy Video: GBPUSD, Pound Traders Ready for Volatility After BoE Report

John Kicklighter, Chief Strategist

Talking Points:

• Interest rate expectations have charged the British pound higher for much of the past year

• While the BoE looks to be on pace for a hike before most counterparts, expectations are very high

• The BoE Quarterly Inflation Report (QIR) promises to clearly update rate potential

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Among the major central banks, the Bank of England is seen as the closest to realizing rate hikes. Those hawkish expectations have charged the British Pound higher for the better part of a year. Now, with GBPUSD hitting six year highs and the sterling advancing against safe haven and high-yield counterpart alike, there is a growing concern that rate expectations (and the currency) have pushed too far too fast. Is the BoE close to that first hike? Is the pound fairly valued or expensive? The BoE's Quarterly Inflation Report (QIR) can clarify expectations and drive the pound. What do we look for in the report? What pairs are best positioned for the different outcomes from the report? We focus on that in today's Strategy Video.

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