Following on my earlier post: HSBC recommends a GBP short ahead of BoE’s Carney’s speech August 28

Barclays, too, recommend a short GBPUSD into the speech. They say:

  • Carney may offer little new guidance
  • May just echo the message presented in the QIR
  • They believe that the BoE will remind the market “that it is focused on the unemployment rate, and unless the rate starts to decline, improvements in other cyclical data should not be reflected in steeper rates”.
  • They highlight Martin Weale’s comments last week