UBS: GBP comment by Beat Siegenthaler – FXWW Chatroom

Cable sharply higher and less dovish comments by MPC dove David Miles, noting that he was sceptical on secular stagnation and the notion that interest rates would have to stay indefinitely low. Note that UBS research is calling for a Nov hike which seems very aggressive but correct in the direction in my view. 
I don’t think the BoE would move before the Fed, but once the Fed does move I don’t think the BoE will wait for six months. 
Hence my view that sterling is good value for money at current levels including against the dollar 

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