The Pound is begrudgingly benefiting from the quasi-risk-on vibe this week. Suggestions from the BOEthat there doesn’t appear to be any signs of price pressure and that probably undermines the Pound in the wakeof the BOE lopsided vote to hold off on UK rate hikes. Therefore, unless equities explode sharply higher andbroad based economic optimism surfaces, we doubt that the December Pound will be able to extend yesterday’shigher high probe.
