GBP/USD’s sitting just under 1.6180 ahead of the 0830 GMT release of final Q2 GDP, but this morning’s rally has again been capped by offers from UK clearers just above the level at 1.6205.
BOE’s Fisher has added to his earlier comments saying that Q3 GDP will be strong, inflation is currently higher than the BOE expected and that world energy prices were boosting inflation pressures
The cable is also being somewhat underpinned by the talk of the farmers rebate we mentioned earlier in the week with EUR/GBP remaining vulnerable to a break lower. Currently around 0.7953.
