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GBPUSD: Daily Analysis & Setup update

Traders in the UK are leading a global repricing of expectations for interest-rate cuts, reducing bets on easing from the Bank of England to around half the level seen at the start of the year.

The moves gathered pace after the BOE’s Jonathan Haskel said in an interview with Reuters that he would need more evidence of inflation cooling before changing his stance. Alongside Catherine Mann, he broke away from the majority of the committee and voted for a quarter-point increase last week.

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