* In spring the recovery was seen as the slowest in 100 years. Now, PMIs are the highest on record.
* In spring Governor Carney was the dove above doves. Now, he sees no need for more QE and is not afraid to hike rates at some point.
* The GBP has strengthening significantly as a consequence, but the most recent move higher in GBP/USD seems overdone.
* We maintain our longer-term GBP views: stronger vs the EUR and weaker vs the USD.
Read the full report: FX Research
Nordea