BoE unlikely to disrupt the current positive Pound performance – MUFG

The Pound remains the top performing G10 currency in 2023, and the second best performing in Q2 to date. Economists at MUFG Bank do not expect the Bank of England meeting to weigh on the GBP.

EUR/GBP may be set to break lower

“The UK economy continues to show resilience and the improved terms of trade due to energy prices is a key positive dynamic for the pound. Huw Pill has spoken about a ‘positive demand shock’.” 

“We do not expect the BoE to disrupt the current positive Pound performance.” 

“EUR/GBP may be set to break lower.”