GBP: To Range-Trade Amid Continued Uncertainty – Barclays

Barclays Capital FX Strategy Research expects GBP to remain range-bound as the political uncertainty from the Brexit negotiations remains elevated.

"However, speakers at Jackson Hole will likely introduce risks, in the context of a market reluctant to price a tightening cycle for the US and of possible disappointment for the lack hints from ECB President Draghi," Barclays adds.

In terms of this week’s key UK data, Barclays expects the GDP print on Tuesday (consensus: 0.3%; previous: 0.3%) to confirm that the subdued economic growth in the UK is driven by meagre growth in household consumption, in line with the recent poor consumer confidence prints.

Source: Barclays ResearchOriginal Article