Risks are skewed to the downside for the pound going into the BOE – BNP Paribas

BNP Paribas says a lot of positives have already been priced in for the pound
Adding that a lot of positive news are already baked into the price and hawkish interpretations of the slowdown in QE purchases should be limited, with the BOE opting for a two-step taper process potentially seen as a more dovish action

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