Here is a very interesting and technical call as we approach the top in the range. The weakness in global risk sentiment has been the main driver behind the move and we are now approaching value areas for longs to take profits and interesting areas for shorts to re-engage.
On the macro side the underlying conditions remain, positive output gaps, above target inflation and resilient growth ... this combination is not in sync with current rates so with CB action becoming fashionable again I am expecting some policy tightening.