GBP: Burnham down the House

This report examines the negative implications of a potential Andrew Burnham premiership on the British Pound, while highlighting recent hawkish signals from the Bank of England.

Key Takeaways

• 1.A potential leadership victory for Andrew Burnham in the Labour Party could be the most damaging outcome for GBP due to his economic and fiscal policy agenda.
• 2.The Bank of England's recent policy meeting was surprisingly hawkish, with MPC members Megan Greene and Huw Pill dissenting in favour of an imminent rate hike.
• 3.Japan's Ministry of Finance is actively using verbal intervention to warn against speculative FX moves on the JPY, potentially limiting carry trade appeal for USD/JPY.

Table of Contents

• Asia overnight
• GBP: Burnham down the House
• JPY: on intervention watch
• Latest publications
• Introducing RMA!
• Open trade recommendations
• Key events
• FX Research advanced tools
• Red Mount Analytics

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