By Rob Howard — May 08 - 02:50 AM
Expectation of dovish BoE rate hold Thursday is weighing on the pound
1.2484 was cable low in Asia, lowest level since May 2 (1.2634 = May 3 high)
Two of the nine Times shadow MPC members advocate BoE rate cut Tuesday
Nine out of 29 economists polled by Reuters expect 2 votes for cut Thursday
Ramsden most likely to join Dhingra in voting for cut. 5-4 for cut in June?
1.2530 (May 3 low) is now a GBP/USD resistance level. 1.2500 expiry today
Source:
Refinitiv IFR Research/Market Commentary