GBP to trade soft amid elevated political uncertainty – ING

Analysts at ING offer a sneak peek into the trading outlook for sterling in the week ahead.

Key Quotes:

“Following the Supreme Court's Article 50 ruling and government's "quick and dirty" Brexit bill, expect political uncertainty to remain high. MPs will debate and vote on the bill (Feb 8), but look for GBP to react negatively to attempts by opposition parties to delay the inevitable start of Brexit talks.”

“BoE meeting (Thu) likely to be a non-event; markets already pricing in a neutral bias, with the MPC expected to reiterate two-way risks to policy. Renewed $ strength should see GBP/USD move back below 1.25.”