Forex Strategy Video: GBPUSD Ready for Volatility on Jobs Data, BoE Minutes
• Interest rate expectations for the UK have swelled over the past six months and so has the Pound
• The BoE's forward guidance projected a hike in 2015, but the market expects one in 2014
• Jobs data and BoE minutes due Wednesday can give offer confirmation or negation
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The sterling has enjoyed considerable strength over the past six months on the back of robust rate expectations. Yet speculation can only go so far without fuel for the fire. With a market increasingly focused on monetary policy as a driver for economic health, capital markets and yields; the market steels itself for the simultaneous release of the most recent round of labor statistics and the minutes for the Bank of England's (BoE) last rate decision. We discuss this important fundamental theme, how the event risk can alter the sterling's bearings and the trade potential for GBPUSD and other crosses in today's Strategy Video.
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