- IMF view on pound fuelled by weak global growth
- weak imports driving current a/c wider
- weak imports may reflect lag from sterling drop
- UK has had sharp bounce in economic activity
- weak global growth impairs strength of UK recovery
BOE dep gov speaking in London and highlighting that the UK’s “hard-won policy framework” means that the UK has to pay less on its liabilities than it otherwise would
Full speech here
Nothing new here but don’t expect the current account deficit and high pound comments/debate to drop away any time soon
GBPUSD a tad firmer at 1.6980 with EURGBP pinned around 0.7910
