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Market Extra: Pound could surge in ‘frenetic’ week of Brexit and BOE news, ING says

It could be a wild ride for the pound next week. With key Brexit transition talks, a Bank of England meeting and closely watched wages data all on the deck, the U.K. currency may well rally to a fresh two-month high, according to ING.

“We suspect a frenetic week could be in store for GBP markets GBPUSD, -0.1005% as Brexit and Bank of England policy risks clash head-on,” said Viraj Patel, foreign exchange strategist at ING, in a note out on Friday.

“If all the cards were to fall perfectly into place for GBP next week — that is the trifecta of an agreed Brexit transition deal, a status quo hawkish Bank of England policy message and constructive U.K.

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