Budget Skies Are Clearing for GBP; BoE to Cut

GBP is left vulnerable given the UK’s fragile position with a high public debt, public deficit and current account deficit. BoE preview – we expect the BoE to reiterate the message of a favouring gradual approach to the cutting cycle (page 2). We are strategically bearish on EUR/GBP; we recommend fading debt concern related rallies. […]

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