“Tomorrow’s December payrolls figures and Wednesday’s December CPI print (economists expect a 5.2% YoY increase) should firm up expectations for a 25bps hike by the BoE roughly two weeks from now (~90% priced in).
“A perfect combination of strong data and hawkishsounding BoE speakers would likely lead the GBP to a test of 1.38, at least, to then set the 1.40...
Linked to this post is a 5 day time frame which indicates a top is near with this H&S pattern.
Maybe one or two pumps left & then a deep dive down into the bre-x abyss!
Speaking shortly after Yellen , Fed Vice Chair Stanley Fischer said that her speech was " conformable " expectations of possible two rate increases this year , opening the door to increase in September.
