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After reaching a peak of 1.2802, the cable rapidly decreased and offset all of its immediate progress, presently standing at 1.2765. As previously noted:

According to the way OIS is priced, it is definite that there will be a 25 bps rate hike this week and it seems unlikely that this will change even if new information emerges. What is currently relevant for the value of the pound and interest rates in the UK is the final pricing, which is estimated to be about 5.83%. This indicates that there is still a significant room for growth since the current bank rate stands at 4.50%.

The data that was received today does not alter the reality that a rate hike of 25 bps will occur tomorrow, and it seems that the markets anticipate at least four more rate hikes of 25 bps after this week.

After analyzing the recent data, it can be concluded that it only supports what has already been factored in and validated by the market.

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