BoE speculation continues to rise
In level terms, the firmer tone in the dollar late in Friday’s European session sees the EUR/USD operating down at the midpoint of the $1.15-1.16 band. Meanwhile, GBP/EUR opens this morning in and around the 1.18-1.1825 whilst the GBP/USD changes hands near the 1.3675 region.
Looking forward to the week ahead, there is event risk for the dollar and sterling with both the Fed and BoE meetings later this week.
Meanwhile, BoE speculation has risen over recent weeks of rate hikes before year end. future contracts are indicating the market is pricing in the possibility of some movement from the BoE this week. Datawise, the all important non-farm payrolls release is due in the US.